Banking finance deals inked for integrated meat project

MUSCAT: Al Bashayer Meat Company on Wednesday signed banking finance agreement with Bank Nizwa by which the bank will provide RO 15 million credit facilities for Al Bashayer integrated meat project.
The agreement was signed by Abdul Salam bin Nasser al Kharousi, Chairman of the BoD of Al Bashayer Meat Company, and Khalid al Kayed, CEO of Bank Nizwa. Al Bashayer Meat Company also signed a contract for implementing the first package of Al Bashayer integrated meat project with Al Rafea Trading and Contracting which will level the land and build the internal and main road leading to the site of the project at the Wilayat of Thamrait.
The contract was signed by Abdullah bin Nasser al Kharousi, Chairman of Al Bashayer Meat Company and Shaikh Fereih bin Ahmed Bakhit Mesan,
Chairman of the Board of
Directors of Al Rafea Trading and Contracting.
The project which stretches over 9 million square metres comprises the vet quarantine, the farms, the fattening unit and the central slaughterhouse.
The project is the first of its kind in the region. The company’s strategy is to build an integrated red meat project based on the import of healthy live animals from different sources. The animals will be placed in clean farms with enough spaces for each animal as per international standards. They will be provided with vet services and fattened using a modern system for fattening animals.
The company plans to fatten local breeds which will lead to meeting the needs of the market for Omani breeds.
A meat processing plant and its derivatives will also be established to ensure maximum utilisation of the animals and sustainability of the project.
The plant will contribute to the food security system and increase the self-sufficiency rate in the Sultanate. — ONA