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The project aims to enhance industrial integration in the marine and fisheries sector, supporting national goals for food security and sustainable economic growth Muscat – Musandam International Investment Company, in partnership with Turkish investors, has signed binding commercial terms and a shareholders’ agreement to establish the Musandam Drydock and Marine Industries Company. The venture, based in Musandam governorate, will see an initial investment of over RO5mn in its first phase. The signing ceremony was attended by H E Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources, and Sayyid Ibrahim bin Said al Busaidi, Governor of Musandam. The company will offer a range of marine services including construction and maintenance of fish farming cages, coastal and commercial fishing vessels, marine tugs, service vessels, and transport vessels up to 35 metres in length. The facility is intended to cater to Oman’s domestic market as well as regional demand. The project aims to enhance industrial integration in the marine and fisheries sector, supporting national goals for food security and sustainable economic growth. It forms part of Musandam International Investment Company’s wider strategy to build an integrated local ecosystem and promote development in Musandam, aligned with Oman Vision 2040. |
