RO 5m Duqm coastal fishing project agreement signed

MUSCAT: The Ministry of Agriculture, Fisheries and Water Resources signed an investment agreement with Al Sawari International Company to implement an integrated coastal fishing, processing, and packaging project for tuna and squid in the fisheries industries zone in Al Duqm. The project's investment value stands at approximately RO 5,430,000.
The signing comes within the ministry's efforts to strengthen fisheries industries, raise the added value of marine products, and support food security objectives.
The agreement was signed on behalf of the ministry by Eng Yaqoub bin Khalfan al Busaidi, Under-Secretary of the Ministry of Agriculture, Fisheries and Water Resources for Fisheries, and on behalf of the company by Mohammed bin Sabr al Wahaibi, Chairman of the Board of Directors of Al Sawari International Company.
The project includes the establishment of a factory for processing and packaging tuna and squid, along with a specialised production line for squid products. This enhances the utilisation of local fisheries resources and supports expansion in manufacturing industries linked to the fisheries sector.
The signing of this agreement reflects the Ministry's approach towards attracting qualitative investments to the fisheries industries zone in Duqm. This contributes to enhancing economic development, providing value-added fisheries products, and supporting the growth of the food industries sector based on marine resources.
The project is expected to support fisheries value chains and enhance the contribution of fisheries industries to the national economy, in line with sustainable development objectives and the diversification of the production base. — ONA