December 29, 2014

Oman to launch US$259 million poultry project

The government of Oman has embarked on a OMR100-million (US$259.7-million) poultry project as part of the country's effort to become self-sufficient in poultry meat. The project will have equity participation from the private sector.

The government's Oman Food Investment Holding has offered A'Saffa Foods a 20% stake in the project, whose capital base is OMR50 million (US$ 129.87 million).

The board of A'Saffa Foods, which operates the country's biggest integrated poultry, approved the government offer early last week to take the 20% equity in the proposed OMR50 million joint venture firm for poultry production in Oman.

A new company will be set up purposely for the poultry project.