Oman-based Al Hosn Investment Company (HIC) will invest in the establishment of the world’s first hamour (grouper) fish farm in the sultanate based on innovative recirculating aquaculture technology, said a report.

HIC is a partnership venture between Qatar Holding and Oman’s Ministry of Finance

The joint venture (JV) has a 15 per cent equity stake in KAT-Aqua, a greenfield project that envisions the farming of around 600 tonnes of Orange-spotted grouper annually at a site allocated within Sur Industrial Estate, added the Oman Daily Observer report.  

KAT Aqua is promoted by Knowledge Advance Technology and Shumookh Investment Services, the investment arm of the Public Establishment for Industrial Estates (PEIE).

Al Hosn Investment revealed on its website that the project is proposed to be developed on a 50,000 sq metre site at Sur Industrial Estate.

It is the latest in a string of investments by the Omani-Qatari JV in a portfolio of strategically significant food-related ventures encompassing aquaculture, dairy farming, poultry production, and agro farming activities, added the report.