Oman Fisheries CEO vows to double production to 56,000 tons in 12 months

The head of the Oman Fisheries Company plans to double the firm’s production to 56,000 tons metric tons in just 12 months.

Oman Fisheries CEO Suleiman Al-Ghannami told Arab News: “In 2021 we processed around 28,000 metric tons and we are targeting double that quantity in 2022. We anticipate exponential growth.”

The company, one of the oldest fish processing operations in the country, plans to hit this target by expanding its international joint ventures to take advantage of technologies from companies around the world.

Speaking on the sidelines at the Saudi International Marine Exhibition & Conference, Al-Ghannami added: “We have existing joint ventures with a number of fishing operators, for example with trawlers from Spain and Turkey.

“They are licensed to fish in Omani waters. Then they offload their catch in Oman, and we process and package it in our various plants. We are targeting other new joint ventures in the near future.”

Oman Fisheries, established in 1989, has six EU and US FDA-approved processing plants across the country.

The firm is publicly listed, with the government of Oman as the primary shareholder. Most of the remaining shareholders are Omani fishers, which gives them a stake in marketing their hauls.

Al-Ghannami joined Oman Fisheries last October, having gained his MBA from Franklin University, in Ohio, US, and previously working at Oman Air and professional services group PwC.

Al-Ghannami said: “We process all types of species, from small fish all the way to tuna, along with crustaceans such as shrimp. We focus on frozen fish value-added products and supplying fresh fish to Oman and [up to 55] international markets.”

Frozen value-added seafood includes the boning, filleting and rapid freezing of fresh fish, mollusks and crustaceans. The market research company Fact.MR estimates the value of the global frozen seafood market at $27 billion.

Oman Fisheries, with a 500-strong workforce, concentrates on food from the sea as opposed to land-based artificial fish farms.

This strategy is in line with the company’s mission to be “the largest producer of fresh and frozen fish and value-added fish products in the Middle East region by 2023 (with) integrated capacities in fishing, processing, canning and logistics.”