May 31, 2016

Al Hosn Investment Company SAOC (HIC), a joint venture formed between Qatar Holding LLC and Oman’s Ministry of Finance, is investing US$27.4 million for a 15% stake in the first Grouper fish farm in Oman, reports Trade Arabia.

KAT-Aqua, a greenfield project that is targeting the production of 600 tons of Orange-spotted grouper per year, will be established on a 50,000 square meter site at Sur Industrial Estate and will employ recirculating aquaculture technology.

The announcement comes only weeks after it was announced that Oman was planning its first land-based fish farm, backed by Oman’s Public Establishment for Industrial Estates (PEIE), which administers the nation’s industrial parks and logistics hubs.

Shumookh Investment & Services, the investment arm of PEIE is backing the venture, and will hold a 10% stake in the project in partnership with Knowledge Advance Technology (Kat), while local investor, Advance Business Solutions, will hold the remaining 90%, according to GDN Online.

Building upon this venture, Omani officials expect to see the birth of a fully mature bio-marine industrial hub and the growth in investments in both downstream and upstream activities along the entire aquaculture value chain.

One of HIC’s first investments was in partnership with Spain’s ZETA Amaltea for the establishment of the Water & Life Investment Company, which owns and operates Oman’s first state-of-the-art hydroponic greenhouse operation, growing tomatoes and peppers, according to Fis.com. HIC holds an 85% stake in the company, while ZETA holds the remaining 15%.

Other investments made by HIC along the food and agriculture chain include a 13.25% stake in A’Saffa Foods, one of the largest poultry and food processing facilities in the country, and a 20.5% stake in Gulf Mushroom Products Company, the largest producer of mushrooms in the Sultanate, according to the Oman Observer.

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Lynda Kiernan