A joint venture mega dairy project with a capital investment of about RO100 million ($258.8 million) is in the pipeline in Oman, in a move to achieve self-sufficiency in dairy production and food security, a report said.

The venture is being promoted by state-owned Oman Food Investment Holding (OFIC), with active equity participation from the private sector, said the Times of Oman report.


The OFIC will have a 20 per cent stake in the dairy firm, which will create 400 direct and indirect jobs, and the remaining 80 per cent stake will be given to investment funds (including pension funds) and private investors, it said.



The OFIC is being established by the government to invest in food security projects, which focus on import substitution and rural development. 

Apart from fresh milk, the dairy project is aimed at producing fresh juice, mineral water, laban and yogurt.