FIC Establishes US 100 Million Soya Production Project in Sohar

Muscat, Oman Food Investment Holding Company (OFIC) launched its soya production plant in Sohar Free Zone at a cost of $100 million. The production is expected to commence at the end of 2019.

The project will import soya beans from its original sources to grind and squeeze them and later separate between the oils and the protein components – for the production fodder which is largely used in the Sultanate and other countries in the region.

The planned production of the project is set at 750,000 tons of fodders and 175,00 tons of soya beans per annum. The project will enable the local industries with table oils after filtering them.

The project seeks to make the Sultanate soya fodder self-sufficient, which the Sultanate imports 100% of its needs. The project will contribute to enhancing food security, availing fresh job opportunities for the Omani youths, diversifying sources of economy, establishing a food industry that enhances food self-sufficiency and achieve the food security which is a goal of OFIC strategy.

Dr. Rashid bin Salim al- Masrouri, CEO of the Public Authority for Stores and Food Reserves and head of the founding committee of the project said that the project comes in a bid to meet the growing demand for high quality and pollutant-free fodders.

On his part, Eng. Saleh bin Mohammed al- Shanfari, CEO of Oman Food Investment Holding Company (OFIC) said the project is one of the targeted projects at the company’s strategy which aims at building an integrated system of food production projects including fodder which plays an important role in empowering and enhancing food security.

It should be noted that the project comes at a time the Sultanate’s poultry production is growing. OFIC decided to carry out a specialized feasibility study. The study highlighted the importance of initiating this project which will complete the food production chain and replace the Omani fodder imports. To this end Oman Oils Company has been established in cooperation with a number of local investment companies.

Source:Oman News Agency