Thursday, June 20
04:25 PM

International Marine Products signs deal for RO30mn fish canning project


International Marine Products Company, an affiliate of Fisheries Development Oman (FDO), is planning to set up a seafood canning project in Duqm with an estimated investment of around RO30mn.

The company will set up a large complex for the canning of tuna, sardines and other marine products over an area of 85,000sqm in the Special Economic Zone at Duqm (SEZAD).

The Public Authority for Special Economic Zones and Free Zones (OPAZ) on Sunday signed a land usufruct agreement with International Marine Products Company for the proposed project in Duqm.

The agreement was signed by Eng Yahiya bin Khamis al Zadjali, in-charge of managing operations of the Special Economic Zone at Duqm, and Eng Nabil bin Salem al Ruwaidi, chairman of International Marine Products Company, according to a press statement.

The fish canning complex has been allocated within fish and food industries zone and nearby the multipurpose fishing port in the SEZAD. The complex will have seafood production capacity of 27,000 tonnes per year, subject to future expansion, with an estimated total cost of RO30mn.

Ali Nasser al Rasbi, general manager of International Marine Products Company, said that the company will launch an operational training programme, within its strategic plan, to train skilled and specialised Omani workers in all areas of the company’s operations.

“The company will also provide the necessary infrastructure to motivate small Omani companies to engage in the manufacturing and processing of fish and marine value-added products,” he said.

Rasbi added that this canning project – which is one of the outputs of the Tanfeedh Program – is in line with Oman’s Vision 2040 and will realise the sultanate’s vision of economic diversification by maximising the return on the sultanate’s fisheries wealth and localising the value-added chain of fish products before exporting them to the global markets.

The fish canning plant will supply the planned domestic national products through local supply chains, which will benefit many medium-sized Omani companies. The project is expected to boost investment opportunities in the sector and create specialised and support job opportunities.

International Marine Products Company is one of the companies affiliated with the Fisheries Development Oman (FDO) and will be the manufacturing arm of the group.

FDO is currently spearheading the projects in the fields of commercial fishing in high seas as well as aquaculture and shrimp farming projects.

With a number of proposed fisheries projects in the Special Economic Zones at Duqm and the development of a large multipurpose fishing port, Duqm is expected to emerge as a regional hub for fisheries and food industries.

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