May 30 2012 |
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Oman Fisheries plans RO30mn expansion
By Gulam Ali Khan Oman Fisheries Company will invest over RO30mn in an ambitious business plan that includes two new fish-processing factories, expansion of its coastal fishing fleet and boosting sales of products in the local market.In its drive to reduce dependence on hired commercial vessels and post a six-fold increase in local sales in three years, the company started implementing its five-year business growth plan in 2010 and has already invested RO5mn of its RO30mn budget.
Speaking to Muscat Daily, Said Rashid al Rawahi, general manager of Oman Fisheries , said the company will set up two new processing factories - in Salalah and Sawqrah (in Al Wusta) - which will add another 7,000 tonnes of production capacity.
To boost its coastal fishing operations, the company aims to own and operate a fleet of coastal fishing vessels. It has already received approval for 24 vessels from the Ministry of Fisheries. The company is also conducting a feasibility study to launch a separate coastal fishing subsidiary.
Rawahi said that Oman Fisheries , which achieved total local sales of 4,400 tonnes in the year ended March 31, 2012, is aiming to increase local sales to 30,000 tonnes in three years. He said, "In the next three years we plan to open around 60 shops in the sultanate. We will also increase our agreements with local fishermen to secure production."
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