Top Omani companies and a Japanese company have signed a memorandum of understanding (MoU) to set up a major table-egg farm in the sultanate, which is expected to produce 360 million eggs every year, said a report.

The egg farm which is projected to be the largest in the sultanate will come up in Ibri, Governorate of Al Dhahirah, and will be built in two phases at a total cost of $40 million, added the Oman Daily Observer report.

The pact was signed between officials from Oman Flour Mills Company (OFM), Gulf Japan Food Fund (GJFF), IFFCO Group and Japan’s Ise Foods, it said.

The decision to establish the farm is in response to a high demand for protein-rich eggs in the GCC.

The signing ceremony was held at the State General Reserve Fund (SGRF) premises. It was presided over by Dr Rashid bin Salim al Masroori, CEO of Public Authority for Stores and Food Reserve (PASFR).

Mitsugu Saito, Japanese Ambassador to Oman, was also present at the event.

The agreement entails acquisition of the country’s largest egg producer and modern poultry farms, and enhancing egg production capacity through state-of-the-art Japanese technology.