|02 October, 2017

Oman's A'Saffa Foods secures funding for $81.8mln expansion plan

The expansion project will increase the company’s annual production capacity to 40,000 tonnes of chicken meat

Oman-based poultry and processed food producer A’Saffa Foods announced on Sunday it has secured long-term financing for its 45 million Omani rials ($116.9 million) expansion project in Dhofar.

The 31.5 million rials financing agreement with Bank Muscat’s Islamic Banking window Meethaq will help fund its expansion plan, which will double its production capacity to 40 million birds per annum, it said in a statement.

The expansion includes adding 10 farms with 90 poultry houses, a hatchery, feed mill, processing plant, and other utilities, the statement said.

It quoted company chairman Sheikh Rashid Saif Mohammed Al Saadi as saying the project will increase A’Saffa Foods’ annual production capacity to 40,000 tonnes of chicken meat per annum and “make a significant contribution to Oman’s food sufficiency”.

A’Saffa Foods SAOG is Oman’s largest fully integrated poultry project and the biggest snack food producer, according to a recent statement from the company.

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