Monday, October 23, 2017

Al Namaa Poultry to float tenders for $260m project

Oman-based Al Namaa Poultry will float major tenders for building a poultry project worth OR100 million ($259.7 million) after six months, said a report.

The mega poultry project, which has already signed an agreement with Semac Consultants for detailed design, plans to produce 15,000 tonnes of poultry meat per annum in the first year of operation, which will go up to 60,000 tonnes in the fifth year, added the Times of Oman report.

The project is planned in Ibri, it said.

Saleh Al Shanfari, chief executive officer of Oman Food Investment Holding Company (OFIC), which is one of the promoters of the joint venture, said that on completion of the design work within the next five to six months, the company will float tenders for enabling works and other major works.

He also added that it will take three months to study and finalise the tender.

Al Shanfari noted that the construction work will take 15 months and therefore, the project is expected to start operations in 2019.

The project finance for Al Namaa Poultry has already been secured from both promoters and financial institutions.

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