Muscat – Oman Investment Authority (OIA) has announced the merger of Oman Food Investment Holding Company (Nitaj) and Fisheries Development Oman (FDO) into a unified business entity. This strategic move is designed to bolster the food security sector in the sultanate and aligns with OIA’s mission to improve efficiency and optimise expenditure within this crucial sector, reflecting a unified vision.

The merger is a significant step towards achieving enhanced performance, delivering high-quality products and ensuring cost efficiency. It will support effective decision-making and alignment with Oman Vision 2040’s national priorities. The process will be carried out according to a well-defined action plan and timeline, in coordination with relevant public entities.

This initiative falls within OIA’s mandate, established under Royal Decree No 57/2021, which governs the establishment, merger, liquidation and sale of its companies. The merger is expected to drive revenue growth through the integration of value chains and consolidation of procurement, contracts, logistics and business activities.

Both companies’ Boards of Directors will keep employees informed and facilitate open discussions regarding the merger’s implications to address the concerns of employees of both Nitaj and FDO.

The Boards of Directors will engage with their respective financial institutions to ensure transparency and adherence to legal and contractual obligations throughout the merger process.

Additionally, the merger will be carefully managed to ensure that ongoing projects and existing contracts with contractors remain unaffected, safeguarding current commitments and project continuity.

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