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Officials at the meeting

Oman firm to set up $158m poultry breeder project

MUSCAT, June 19, 2016

Oman-based Osool Poultry will focus on its RO61-million ($158.4 million) breeder poultry project, it was revealed at the company’s constitutive general meeting (CGM).

The meeting highlighted the significance of the breeder project for the food security of Oman.

The meeting was chaired by Eng Saleh Mohamed Al Shanfari, chairman of the founders committee of the project, said a statement.

Poultry production in Oman is highly dependent on the smooth supply of ‘hatching eggs’ from the breeder farm, and hence ‘hatching eggs’ is the starting point of the poultry meat project. Poultry production operations in and around the sultanate has suffered due to the disruption of supplies from abroad for reasons such as disease outbreaks in the supplier countries, logistic issues, demand supply problems, etc. Furthermore, hikes in prices of the ‘hatching eggs’ also adversely affected the operations of poultry companies in Oman as well as other GCC countries, it said.

Osool Poultry aims to ensure smooth supply of the basic commodity - breeder eggs - to the poultry industry. The breeder project will inspire poultry projects to increase their production capacities and comfort the ‘green field food security’ project, ensuring the smooth supply of high quality hatching eggs at sustainable prices, it added.

This project will be a major contributor to the food security of not just the sultanate, but also the GCC. The project aims to add to Oman’s goal in diversifying the economic resources, said a statement.

At a cost of around RO61 million ($158.4 million) the project will definitely create job opportunities for the Omani youth and skilled professionals in the private sector; and will go a long way in helping to save foreign exchange procedures that were used to import ‘hatching eggs’ previously, it added.

The project will be a source of foreign exchange revenue as the local production will be sold to neighbouring countries, it said.

Reiterating the country’s vision to become a major food hub in the region, Al Shanfari thanked all the shareholders for investing in such a highly strategic project. He also thanked the Arab Authority for Agricultural Development Investment (AAAID) and Gulf Investment Corporation (GIC) for their support and participation in the food security projects in Oman.

Additionally, he also thanked A’Saffa Foods and A’Namaa Poultry Co. for taking up the challenge to implement this highly strategic project. He recognised the Ministry of Agriculture, Ministry of Commerce and Industry, Ministry of Housing and other government bodies for their support to   food security projects in Oman.  He clarified that the self-sufficiency for production of white meat will reach 70 per cent by the year of 2030, it added. – TradeArabia News Service




Tags: | Oman |

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