Leading international players specialising in the production of animal feed have taken equity stakes in Oman’s maiden soya meal processing project planned for implementation within the Food Cluster of Sohar Port and Freezone (Sohar), said a report.

Oman Food Investment Holding Company (OFIC), the government’s food investment flagship, is spearheading the development of the project with an investment of around RO38 million ($98.69 million), added the Oman Daily Observer report.

It is the latest in a rapidly expanding portfolio of initiatives and programmes being pursued by the state-owned enterprise in support of the nation’s food security strategies,

Frank O’Regan, chief operating officer, OFIC, said that well-established players from East Africa and the Gulf have been roped in as strategic investors in the venture.

He noted that various international and local and investors are participating in Oman Soya Crushing Company, which was launched recently to crush soya meal — a major constituent element in animal feed for the poultry sector.

O’Regan revealed that some of them hail from Tanzania and the UAE, and are already in the business of animal feed processing.