Oman Launches Floating Factory: A Game Changer for Fisheries Investment and Business Growth
AL DUQM, DEC 29 — The Ministry of Agriculture, Fisheries and Water Resources has officially launched a groundbreaking project in collaboration with Ocean Fish Company: a RO 7.7 million (approximately $20 million) Floating Factory designed to catch, process, and freeze fish directly at sea.
The launch was overseen by Eng. Yaqoub bin Khalfan al Busaidy, Under-Secretary for Fisheries at the ministry. This high-tech vessel enables immediate onboard processing of marine products, ensuring optimal freshness by significantly reducing the time between catch and market.
This initiative supports the broader government strategy under the "From Sea to Manufacturing" program, aligned with Oman Vision 2040. The plan aims to transform the Port of Duqm into an expansive industrial hub. Earlier in the year, the ministry invited investors to establish canning and processing facilities within the Al Duqm Fisheries Industrial Zone, focusing on land-based operations supported by secure fishing quotas.
Ocean Fish Company’s floating factory advances this vision by bringing processing capabilities directly to fishing grounds. Unlike traditional land-based factories needing catch delivery, this vessel innovatively merges fishing and manufacturing, enhancing the competitiveness of Omani seafood in international markets.
Beyond being a vessel, this floating factory represents a strategic logistical solution. Operating out of Duqm Port, it facilitates efficient export of premium frozen seafood to global destinations across Asia, Europe, and beyond. This approach promotes industry localization by retaining more value and processing activities within Oman, rather than exporting raw fish for overseas processing.
The RO 7.7 million investment is anticipated to generate new employment opportunities for Omanis and bolster the country’s aspiration to become a regional leader in food security. Leveraging advanced technology alongside Oman’s abundant marine resources, this project firmly positions the "Blue Economy" as a cornerstone of the Sultanate’s sustainable growth.
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The launch of the RO 7.7 million Floating Factory by Ocean Fish Company represents a strategic leap in modernizing Oman’s fisheries sector, enabling quicker, fresher processing at sea and positioning Oman as a competitive player in global seafood markets. For businesses, this creates opportunities to tap into high-value export markets and benefit from localized value addition, while investors should consider the growing importance of the Blue Economy and Duqm’s evolving industrial infrastructure as key drivers of future growth. Smart entrepreneurs might explore complementary ventures in seafood processing, logistics, and technology integration to capitalize on this government-backed maritime innovation.
