Oman’s Ministry of Agriculture, Fisheries, and Water Resources has signed usufruct agreements with wholly government-owned Blue Waters for the implementation of a pair of finfish projects with an investment of $34 million (RO 13.4 million).
According to the statement, “While one project will focus on tuna aquafeed, the other is on finfish farming.” Blue Waters is a subsidiary of Fisheries Development Oman (FDO), which is part of the Oman Investment Authority (OIA).
The agreements were signed by Dr. Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources and Sheikh Nasser bin Sulaiman al Harthy, Chairman of Blue Waters’ Board of Directors.
Dr. Al Habsi said that “the agreements are in line with the ministry’s efforts to support fish farming projects which contribute to increasing local fish products, as well as providing job opportunities for Omani youth. Those projects will also boost the Gross Domestic Product (GDP).”
The tuna aquafeed project will target international markets that import high-quality tuna. “The capacity is expected to reach 400 tons annually during the first phase, rising to 2,000 tons in future phases,” as per the statement. The project, which will cost $12 million (RO 4.8 million), covers a total of 193 hectares.
The finfish farming project will expand its capacity from 3,000 tons to reach 5,000 tons. As per the agreement, the project will be expanded by developing a new marine area in the Wilayat of Qurayat on a total area of 3.75 million square meters at a cost of $22 million (RO 8.6 million).