Oman Food Capital Partners with JBS: Implications for the Future of the Omani Meat Industry
Muscat: Oman Food Capital, a subsidiary of the Oman Investment Authority (OIA), has entered into a strategic partnership with JBS S.A., one of the world’s leading food companies based in Brazil. The agreement, valued at US$150 million (approximately OMR 57.7 million), will enable JBS S.A. to operate new facilities in Oman focused on the local production of red meat and poultry and establish a regional export hub aimed at global markets.
This partnership is a significant move in OIA’s strategy to develop an integrated national food sector ecosystem and maximize value in agricultural and food supply chains. By aligning with a global leader like JBS, Oman aims to facilitate the transfer of advanced knowledge and technology, thus enhancing local manufacturing and increasing the added value of Omani products.
Under this collaboration, JBS S.A. will make its largest investment in the Middle East’s meat and poultry sector. This includes the completion of an integrated poultry plant managed by A’Namaa Poultry Company in Ibri, along with a slaughter and processing facility for cattle and sheep operated by Al Bashayer Meat Company in Thumrait. Once operational, these facilities are expected to achieve a combined production capacity of approximately 300,000 tons annually, including 77,000 tons of beef, 20,000 tons of mutton, and 208,000 tons of poultry.
The partnership is set to enhance food security in Oman while positioning the country as a key producer of halal food products for both regional and global markets. Furthermore, the initiative is expected to create over 3,000 direct jobs across various production stages over the next five years, thereby supporting local economic growth, improving workforce skills, and advancing the food and agricultural sectors in Oman.
His Excellency Muneer bin Ali Al Muneeri, Deputy President of OIA for Operations and Chairman of Oman Food Capital, emphasized that this agreement aligns with OIA’s commitment to ensuring the sustainability and efficiency of its investments within the National Development Fund. It aims to attract strategic partnerships that will enhance the economy, generate employment opportunities, strengthen supply chains, and contribute to the goals of the Eleventh Five-Year Plan under Oman Vision 2040.
Gilberto Tomazoni, CEO of JBS, remarked on the strategic importance of establishing supply chains in the region to tap into its sizable and expanding market. He stated that this partnership lays a strong foundation for accessing nearby markets and enhances JBS’s regional presence, highlighting OIA as a trusted partner and praising Oman’s stability and favorable investment climate.
Abdullah bin Mohammed Al Rashdi, CEO of Oman Food Capital, described the partnership as a vital step toward creating an innovative and sustainable food sector through international cooperation and economic impact. This initiative represents a new chapter for Oman’s food landscape and exemplifies the confidence of global companies in Oman’s investment environment, positioning the country as a significant regional hub in sophisticated food value chains.
This collaboration marks JBS’s entry into primary production in the Middle East. The global food company boasts a diverse range of high-quality products, including poultry, beef, mutton, fish, and plant-based proteins, employing over 282,000 people across 20 countries. JBS’s brands reach consumers in about 180 countries, and the company is involved in various related sectors, such as leather, biodiesel, collagen, fertilizers, waste management, and recycling, with a strong emphasis on principles of the circular economy.
Oman Food Capital serves as the specialized investment arm within the food sector under OIA, managing a diverse portfolio of impactful investments aimed at enhancing national food security and delivering sustainable value in line with Oman Vision 2040. With over 15 subsidiaries, it plays a crucial role in developing major food projects that bolster food security and economic resilience.
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The strategic partnership between Oman Food Capital and JBS S.A. represents a transformative opportunity for businesses in Oman, signaling a significant boost in local agriculture and food production. With an anticipated 3000 direct jobs created and advanced production facilities, this venture not only enhances food security but also positions Oman as a pivotal export hub for halal products in the region. Smart investors and entrepreneurs should seize this moment to capitalize on the growing food sector, considering potential collaborations and innovations that align with Oman’s Vision 2040 objectives.
