The consolidation decision comes as a first step in the direction OIA intends to implement in the coming period to evaluate the performance of state-owned companies, in order to take the correct investment decision regarding them, whether by merging them, raising their capital, restructuring or exiting, according to its investment strategy, to ensure stronger returns from the state’s financial resources.
The consolidation of these companies comes as a fruit of close cooperation between Oman Investment Authority and the Ministry of Agriculture and Fisheries, a positive example of government institutions' cooperation with the investment authorities in the Sultanate and will create a positive incentive for private sector investors.
The consolidation will include the dissolution of the boards of directors of the three companies to be under one board of directors, in addition to the integration of their operations under one umbrella and one legal and investment entity.
The consolidation will push forward Barr Al Hikman Shrimp Aquaculture Farm, expected to be the second largest of its kind in the MENA region, with an area of 40,000 hectares, and an estimated production capacity of 200,000 tons of shrimp annually.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).