Fish farm in Oman. (Photo: KZO Sea Farms)
Omani Govt. considers aquaculture projects for USD 2bn
OMAN
Friday, August 18, 2017, 01:20 (GMT + 9)
Oman’s Ministry of Agriculture and Fisheries (MOAFW) is considering several aquaculture projects that would involve investments of over USD 2 billion in the sultanate.
A senior ministry official stressed that these projects are intended to focus on fish and shrimp farming, the Oman Daily Observer reported.
The MOAFW estimates that aquaculture could represent an industry of 220,000 tonnes/USD 500-900 million for the year 2030. But still there is an emerging sector, with an important field for the investment. An example of this is that only 127 tonnes of shrimp are currently farmed.
Dawood Al Yahyai, director of aquaculture development at the ministry, said the ministry is reviewing 24 applications linked to the implementation of large-scale aquaculture projects.
From the total applications received, six proposals have been approved with their execution likely to commence before the end of this year.
The remaining 18 are at different stages of evaluation, with the promoters undertaking the environmental impact assessment, feasibility study, and other requisite groundwork.
The official made the comments at a recent forum on aquaculture organised by Ithraa, Oman’s inward investment and export development agency, at the Public Authority for Civil Aviation Training Centre in Al Hail North.
The Ministry of Agriculture has a strategic plan for fisheries development for 2011 to 2040, which aims to provide 11,000 job opportunities for Omanis and produce 200,000 metric tonnes from aquaculture.
“Oman has the opportunity to be recognised, along with the world’s leading aquaculture nations, such as Japan and Greece,” highlighted Andreas Ntatsopoulos, chief operating officer, Oman Aquaculture Development Company.
For his part, Michael Katz, chief executive officer of Oman Aqua Science, stated that Oman could be on its way to becoming an export power house for marine products.
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