Muscat – Fisheries Development Oman (FDO), the fisheries investment arm of the Oman Investment Authority (OIA), has signed an advisory contract with AquaBioTech Group, a Malta-based international leader in aquaculture, fisheries, and marine consulting and development.

Under this contract, AquaBioTech Group will provide a comprehensive range of consulting and advisory services to support FDO in developing sustainable aquaculture and fisheries sectors in Oman, according to a press statement issued by AquaBioTech Group.

AquaBioTech Group’s advisory support will include business strategy development and technical due diligence services.

‘FDO is mandated to co-invest in diverse aquaculture, fisheries, and marine biotechnology industries across Oman, with a robust funding allocation of $1.2bn from the Omani government. The government has already made significant investments in strategic aquaculture projects, including seabream cage farming with Blue Water LLC, semi-intensive shrimp farms in Al Sharqiayah South Governorate, and the construction of a fishing port in Duqm,’ AquaBioTech Group noted.

Badar Said al Naabi, group director of business development at FDO, said, “The fisheries sector is a vital pillar of Oman’s economy. Through FDO’s strategic investments and initiatives, we aim to enhance Oman’s standing in international fisheries markets while unlocking the untapped potential for aquaculture development.”

Shane A Hunter, AquaBioTech Group CEO, said, “This development contract underscores FDO’s strong commitment to aquaculture and opens the door to new and emerging market opportunities. FDO’s ambitions for Oman’s aquaculture sector are both bold and attainable, and through this partnership, we are dedicated to realising these goals.”

According to AquaBioTech Group, other areas of investment interest that FDO is considering include fish/shrimp feed production, microalgae production, mussel farming, broodstock development for various fish and shrimp species, abalone farming, macroalgae/seaweed farming, sea cucumber farming, oyster farming, ornamental fish/coral propagation, tuna penning/ranching, seriola/amberjack farming, and land-based RAS farming for various species, including salmon, grouper, and European seabass.

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