OIA-Backed Fish Canning Plant in Duqm: Enhancing Oman’s Fisheries Industry for Increased Investment Opportunities
MUSCAT: A significant new tuna and sardine canning facility, supported by the Oman Investment Authority (OIA), has commenced operations in the Special Economic Zone at Duqm. This development is part of the Sultanate’s initiative to enhance value-added production in the fisheries sector and bolster food manufacturing capacity.
Developed through OIA’s subsidiary, Oman Food Investment Holding, the project has an investment value of OMR 26 million and boasts an annual production capacity of up to 100 million cans, making it one of the largest fish canning plants in the Middle East. The facility’s operational scale and processing capabilities surpass those of similar plants across the GCC.
The plant offers a variety of seafood products, including canned tuna and sardines, as well as fish-derived items such as fish meal and fish oil. It operates a fully integrated supply chain, sourcing raw materials from Omani fishing companies and employing modern processing lines, cold storage facilities, and warehousing for finished goods. This integrated model enhances efficiency, product quality, and domestic value creation within the fisheries industry.
The project is anticipated to generate approximately 200 direct jobs, contributing to national employment objectives and fostering local capabilities in food processing and manufacturing. On-the-job training is a crucial aspect of the facility’s operations, aligning with broader goals to develop human capital in emerging industrial sectors.
Sustainability is a core principle of the plant’s design and operations. Environmentally responsible practices, including energy and water efficiency measures and the reuse of fish waste for secondary products like fish oil and meal, are implemented in accordance with international sustainability standards and the UN Sustainable Development Goals.
Strategically situated in Duqm, near major fishing grounds and an expanding network of ports along the Arabian Sea, the facility benefits from logistical advantages that facilitate competitive access to regional and global markets. These advantages are expected to enhance Oman’s status as a reliable exporter of high-quality seafood products.
This project aligns with Oman Vision 2040, particularly its focus on economic diversification, sustainable investment, and growth driven by the private sector. It also forms part of the OIA’s National Development Fund (NDF), which oversees over 160 companies across vital economic sectors. The NDF emphasizes eight strategic priorities, including stimulating sector growth, increasing local content, attracting investments, and enhancing governance and institutional transparency.
The OIA acts as the investment arm of the Sultanate of Oman, managing a diversified portfolio in sectors such as food and fisheries, energy, logistics, ICT, tourism, mining, manufacturing, and aviation, with investments in both domestic and international markets.
Special Analysis by Omanet | Navigate Oman’s Market
The launch of a major tuna and sardine canning facility in Duqm signifies a strategic shift towards value-added production in Oman’s fisheries sector, enhancing both domestic capability and export potential. This development presents opportunities for businesses in related supply chains, as well as risks for those slow to innovate, especially in sustainable practices which are increasingly demanded by consumers and regulatory frameworks. Smart investors should explore partnerships with local fisheries and technological providers to capitalize on this growth and align with Oman Vision 2040’s goals of economic diversification and sustainable investment.
