Diwan of Royal Court, Nakheel Oman Development Company ink investment agreements

Nakheel Oman Development Company to off-take all of the products, derivatives and by-products produced by the One Million Date Palm Trees Project, for a period of 30 years

  

Muscat: Within the framework of the joint cooperation between the public and private sectors to achieve the goals of Oman Vision 2040 which aims to boost the national income through diversifying the economy and empowering the private sector, and achieve balanced development in the governorates, the Diwan of Royal Court has signed a number of investment agreements.

The first agreement enables Nakheel Oman Development Company to off-take all of the products, derivatives and by-products produced by the One Million Date Palm Trees Project, for a period of 30 years.

The second and third agreements stipulate for renting lands in the wilayats of Barka and Nizwa for the purpose of setting up the company’s projects in downstream investments within the dates and palm tree by-products sectors namely dates, fodder and fertilizers currently under focus by the company.

The agreements were signed by Abdullah bin Sha’ban al Farsi, head of administrative and financial affairs at the Diwan of Royal Court and Shaikh Rashid bin Saif al Mardhoof al Saadi, Vice-Chairman of Nakheel Oman Development Company, in the presence of Dr Saif bin Rashid Al Shaqsi, Director-General of the One Million Date Palm Trees Project and Ali bin Said al Araimi, General Manager of Nakheel Oman Development Company.

Nakheel Oman Development Company is a joint venture between the Diwan of Royal Court and Oman National Investments Development Company (TANMIA). The Company seeks to become the leading Omani company in the processing of dates and related by-products and one of the biggest global suppliers of those products. The company also seeks to invest in date palm trees and healthy foods and sustainable agriculture.

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