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FinancialNews
18-10-17
Dairy farm project "Tanfeedh" to contribute USD2.7 billion to Oman's economy
(MENAFN) Oman's National program for enhancing economic diversification "Tanfeedh", has set a project that the sultanate's largest integrated dairy farm project currently under development at Al Sunainah in Al Buraimi Governorate has the potential to contribute as much as RO800 million (USD2.7 billion) to the local and national economy over the next 10 years, according to the Oman Daily Observer report.
With an investment of around RO100 million (USD259.7 million), the subsidiary of Oman Food Investment Holding Company (OFIHC), which is the government's food investment arm, Mazoon Dairy Company, is managing the establishment of the landmark project, the report added.
Construction work on the ambitious venture has officially started today (October 18), with a foundation-stone laying ceremony planned at the project site.
The event is attended by a number of government figures including Minister of Agriculture and Fisheries Dr Fuad Jaffar al Sajwani, as well as the Governor of Buraimi and local walis.
MENAFN1810201700450000ID1095959456
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