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OFIC signs consulting pact with Frost and Sullivan

MUSCAT: Oman Food Investment Holding Company (OFIC) signed a consulting agreement on Tuesday to prepare a feasibility study for the production and packaging of sardines and seafood.

The agreement was signed by Saleh bin Mohammed al Shanfri, Chief Executive Officer (CEO) of OFIC and the Legal Counselor of the Frost and Sullivan Consulting Office.

The agreement will be implemented within 13 weeks. The consultant will conduct a technical and economic feasibility study for the production and packaging of sardines and seafood.

The project is one of the initiatives adopted by the National Programme for Enhancing Economic Diversification (Tanfeedh). It aims to establish a plant for producing and packing sardines and tuna, which are abundant in the seas of the Sultanate and the countries overlooking the Indian Ocean with an average production of about one million sardine tins a day as a first stage, in addition to fish oils and feeds extracted from fish.

The project is expected to contribute to raising the added value of sardines and other marine products, which are currently being handled and sold in the market in their raw form without significant additional value.

The Sultanate’s seas have a large stock of sardines, some of which are harvested and some are dried whereas some quantities are used as feed for animals.

The project is expected to provide employment opportunities for Omanis, as well as contributing to the desired economic diversification, which is currently sought by the Sultanate in view of fluctuating oil prices. — ONA

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