Muscat – JBS, a leading Brazilian global food company, has announced an investment of US$150mn in Oman to create a new multiprotein production platform covering the production and export of beef, poultry and lamb.

JBS has acquired an 80% stake in a newly established food holding company that consolidates two production assets in Oman through a partnership with Oman Food Capital, which will retain the remaining 20% stake, according to a statement issued by the Brazilian company. Oman Food Capital is the food and agribusiness investment arm of Oman Investment Authority (OIA).

In a separate statement, OIA confirmed that Oman Food Capital has signed a strategic partnership with JBS. It said the US$150mn agreement will see JBS operate new facilities in Oman for the production of red meat and poultry, while establishing a regional export hub serving global markets.

The joint venture will contribute to strengthening food security in Oman, in line with Vision 2040, while positioning the country as a strategic platform for the production of halal food products for export to multiple markets. The initiative is designed to serve the global halal market, which currently caters to an estimated 2bn consumers.

Under the strategic partnership, JBS will make its largest investment in the Middle East in the meat and poultry sector by completing the construction of an integrated poultry plant operated by A’Namaa Poultry Company in Ibri, in addition to a slaughter and processing facility for cattle and sheep operated by Al Bashayer Meat Company in Thumrait.

Upon completion, production capacity is expected to reach approximately 300,000 tonnes annually, comprising 77,000 tonnes of beef, 20,000 tonnes of mutton and 208,000 tonnes of poultry. Production is expected to begin within six months for beef and lamb, and within 12 months for poultry, JBS stated.

The project is expected to generate more than 3,000 direct jobs over the next five years across the entire production chain.

Muneer bin Ali al Muneeri, Deputy President of OIA for Operations and Chairman of Oman Food Capital, said the signing stems from the authority’s efforts to ensure the sustainability and efficiency of its investment assets within the National Development Fund, enabling these to attract strategic partnerships that add value to the economy, create employment opportunities, strengthen supply chains, contribute to the global reach of products, and support the priorities of 11th Five-Year Plan.

Gilberto Tomazoni, Global CEO of JBS, said establishing the early stages of supply chains in the region has become a strategic imperative for the next phase, given the region’s large and growing market. He added that this solid foundation in Oman will enable the company to access nearby regional markets and consolidate its presence in the region.

According to Abdullah bin Mohammed al Rashdi, CEO of Oman Food Capital, the partnership is a pivotal step in the company’s journey towards building an integrated and sustainable food sector based on innovation, international partnerships, and economic and social impact.

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