The officials and dignitaries posing for a group picture after the signing ceremony in Muscat.
Doha: Hassad, Qatar’s premier investor in the food sector announced yesterday, that the company is investing 20 percent in downstream seafood sector “Global Seafood Company” in Oman.
With this new investment, the company’s total investments in Oman will reach approximately QR500m.
The agreement was officially signed yesterday by Hassad CEO Mohamed bin Badr Al Sadah and Oman Food Investment Holding Co CEO Saleh Al Shanfari during a ceremony in Muscat.
This new strategic project is scheduled to enter into the operations phase within the next two years, targeting domestic and international markets. The project is a strong addition to Hassad’s three exciting projects, in the agricultural and logistical sectors in Oman.
On the occasion, Hassad CEO said: “It is our pleasure to invest in this strategic fishery project, as it aims to support the food security efforts in both countries”.
“Investing in this project is a positive step forward towards achieving our vision to be a successful strategic investor in the global food and agricultural value chains.” Al Sadah said.
“We aim to expand our international investments portfolio, by partnering with internationally reputable companies with successful track record,” he added.
Additionally, Hassad, which owns 33 percent of A’Saffa foods in Oman, announced the company’s ongoing expansion plans. In 2019, A’Saffa’s yearly production will be doubled to reach 44 million bird per year.
Following this expansion, A’Saffa will be one of the largest poultry producers in the region.
