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FINANCIAL NEWS
Oman SAOC to invest USD620m in food security projects
16 Jun 2015
(MENAFN) Oman Food Investment Holding Company (SAOC) is set to undertake three projects, worth USD620 million, in food security, specifically to build dairy, poultry and red meat factories, Oman Daily Observer reported.
In addition, Mazoon Dairy Company (SAOC) is presently involved in establishing a USD258 million fully integrated dairy farm and a processing plant, all in hopes of fostering food security in dairy products across the Sultanate.
Presently, Oman produces only 30 percent or one third of the country’s local demand for poultry products, for the remaining 70 percent, the Gulf country heavily relies on imports and external trade relations.
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