Sohar International’s $150 Million Food Partnership: Key Insights for Investors and Business Owners in Oman
MUSCAT: Sohar International has solidified its role as a trusted financial partner by serving as the financial advisor to Oman Food Capital in its strategic collaboration with JBS, the world’s largest meat processing company. This partnership, which involves an investment of $150 million, aims to enhance operations at the Al Bashayer factory and finalize the construction of the A’Namaa Poultry factory. Such initiatives are set to improve national food security and establish the Sultanate of Oman as a pivotal regional hub for meat exports.
Abdulwahid Mohamed al Murshidi, CEO of Sohar International, commented on the strategic partnership: “This collaboration reflects our ongoing commitment to supporting initiatives that provide long-term value for Oman’s economy. It includes attracting high-quality foreign direct investment that aligns with national priorities. Partnerships of this magnitude are crucial for strengthening food security, promoting industrial development, and positioning the Sultanate on the global investment landscape, in accordance with Oman Vision 2040. By advising on projects of national significance, we foster sustainable growth, enhance local supply chains, and advance workforce development, contributing to Oman’s goal of building a resilient, diversified, and future-ready economy.”
This partnership is expected to significantly bolster food security in Oman while aligning with Oman Vision 2040. It also aims to position the country as a strategic hub for halal food production for export to various regional and international markets, catering to the global halal food market.
The investment will primarily focus on completing A’Namaa’s integrated poultry production facility in the A’ Sunaynah region and developing Al Bashayer’s beef and lamb processing facility in Thumrait. Once operational, these facilities are projected to achieve a combined production capacity of approximately 300,000 tonnes per year, comprising about 80,000 tonnes of beef, 20,000 tonnes of lamb, and 208,000 tonnes of poultry.
Over the next five years, this initiative is anticipated to create more than 3,000 direct jobs throughout Oman’s entire value chain, supporting local economic growth, workforce development, and the ongoing expansion of the Sultanate’s agri-food sector.
Special Analysis by Omanet | Navigate Oman’s Market
The strategic partnership between Oman Food Capital and JBS signals a pivotal shift for businesses in Oman, positioning the Sultanate as a regional hub for meat exports. This initiative presents significant opportunities for local entrepreneurs in the agri-food sector and enhances food security, which translates into increased foreign direct investment for Oman. Smart investors should consider the growing demand for halal food products and potential expansions in local supply chains as key areas for strategic engagement.
