Oman has signed a third usufruct deal to set up fish farming projects worth RO66 million ($170.8 million) at lands dedicated to fish farming by two private sector companies, according to a report.

The first deal was signed with Arabia Marine Development Company to set up shrimp farming project at Qaroon village in the Wilayat of Ja’alan Bani Bu Hasan in the Governorate of South Al Sharqiyah over 500 hectares at a cost of about RO29 million, said the Oman Daily Observer report.

The second agreement was signed with Al Jazeera Investment Company to set up abalone and grouper fish farming project using the closed system in the Niyabat of Sharbathat in the Wilayat of Shaleem and Al Halaniyat Islands in the Governorate of Dhofar at a cost of RO34.5 million, it said.

Meanwhile, Knowledge Modern Technologies Company received a technical operation license, which will allow it to start production of grouper fish using the closed cycling system in Sur Industrial area at a cost of RO2.5 million.

The agreements come within the government interest to provide food security, diversify sources of income and benefit from the available natural resources in the country, Shaikh Saif bin Mohammed al Shabibi, Minister of Housing, was quoted as saying.

The ministry is currently identifying other locations to set up more fish farming projects, he said.

The three fish farming projects will provide the local market with around 7,330 tonnes of seafood, such as shrimps, grouper fish and abalone, besides 800 jobs for citizens, Dr Fuad bin Jaafar al Sajwani, Minister of Agriculture and Fisheries, was quoted as saying.