Major poultry facilities project to take shape in Oman
Muscat-based Al Namaa Poultry will develop one of the biggest poultry projects in the Sultanate of Oman with a meat production capacity of 60,000MT per annum near Ibri in the country’s northwest
Muscat-based Al Namaa Poultry will develop one of the biggest poultry projects in the Sultanate of Oman with a meat production capacity of 60,000MT per annum near Ibri in the Az Zahirah region in the northwest of the country.
The company recently signed a financing deal with Meethaq Islamic Banking from Bank Muscat to successfully conclude long-term financing facilities of $130m (OMR50 million) to finance the venture, the Times of Oman reported.
The project will comprise of 240 poultry houses in addition to a hatchery, feed mill, processing plant, water treatment plant, other utilities and administration block.
Saleh Mohammed Al Shanfari, chairman, Al Namaa Poultry, and Sulaiman Al Harthy, deputy chief executive officer, Meethaq Islamic Banking, signed the financing agreement at a ceremony.
Al Shanfari said that the fully integrated poultry farm is line with the Oman Government’s initiatives on food security of the country and would also reduce reliance on the imports of the basic food ingredients, especially chicken meat.
Yaqoob Mansoor Al Ruqaishi, general manager of the project, emphasised that the new poultry project enjoys strong sponsors’ and investors. He further said the project aims to add to the Sultanate’s goal of diversifying economic resources and generating new employment opportunities for Omani youth, along with learning, and development of new skill sets.
The project is supported by the Oman Ministry of Commerce and Industry, the regional municipalities, the Ministry of Housing, the Ministry of Agriculture and Fisheries and the Ministry of Environment,