Soya production plant worth $100m to be built in Oman
A project of Oman Food Investment Holding Company, the plant is expected to start production by end 2019
Oman Food Investment Holding Company (OFIC) has announced the launch of its soya production plant in Sohar Free Zone.
The plant, which has a development cost of $100m (OMR38.5m), is expected to start production by end 2019, Oman News Agency (ONA) reported.
According to OFIC, once completed, the project will have an annual production capacity of 750,000 tons of fodders and 175,000 tons of soya beans.
The project is reportedly designed to make Oman self-sufficient in terms of soya fodder, with the country currently importing 100% of its needs.
The project will contribute to enhancing food security, creating job opportunities for Omanis, diversifying economic sources, establishing a food industry that boosts food self-sufficiency and food security, ONA added.