Muscat – Musandam International Investment Company signed an agreement to establish an integrated fish-farming project in Musandam with foreign investors on Sunday.

The signing of the agreement was attended by H E Saud bin Hamoud bin Ahmed al Habsi, Minister of Agriculture, Fisheries and Water Resources, Sayyid Ibrahim bin Said al Busaidi, Governor of Musandam, and several public and private sectors officials.

The agreement is part of efforts of Oman Chamber of Commerce and Industry in Musandam to attract investments and diversify the economy in the governorate, while finding jobs for the local community.

According to the agreement, the project is scheduled to start this year and will produce more than 3,500 tonnes of fish annually for export to regional and international markets.

The project will include an open-water marine farm, a fish hatchery, a packing and processing plant, a research and development laboratory, warehouses and logistics services.

The project will implement a sustainable farming mechanism that aims to ensure the best levels of protection of the marine environment and product quality.