Oman’s 100 mln riyal ’mega poultry project’ to start operations in 2019 - media

Oman's Al Namaa Poultry's 100 million Omani riyal ($260 million) 'mega poultry project' will float construction tenders in six months and is expected to start operations in 2019, Times of Oman reported yesterday citing Saleh Al Shanfari, CEO of state-owned Oman Food Investment Holding Company (OFIC) that holds 20 percent in Al Namaa. 

The facility is projected to produce 15,000 tonnes of poultry meat in the first year of operation and increase production up to 60,000 tonnes in the fifith year, according to the news report. 

"The poultry project will be three times bigger than the largest poultry project in Oman now," Times of Oman quoted Al Shanfari as saying. 

Oman's biggest poultry producer is A'Saffa Foods that produces around 21 million chickens a year, according to its website.

Al Namaa Poultry Company started operations in 2015. Apart from OFIC's 100 million Omani riyal investment in the company, in June this year it also obtained project financing for the mega poultry project of 50 million Omani riyals from Meethaq Islamic Bank.

According to Al Shanfari, the main purpose of the mega poultry project is to achieve self-sufficiency or import substitution in poultry meat production, said the Times of Oman report. 

Oman's chicken consumption was 150,000 tonnes in 2016. Imports currently account for 60 percent of annual consumption while domestic production makes up the remaining 60,000 tonnes, according to government data. 

OFIC is mandated to promote Oman's food security through partnerships with other government agencies, private operators, and investors.

Source: http://bit.ly/2gZ0yWe

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