Fisheries Development Oman has already made significant investments in strategic and sustainable aquaculture and fisheries projects.
Photo: Fisheries Development Oman.
Aquaculture, fisheries, and marine consulting and development firm AquaBioTech Group has announced the signing of a consultancy contract with Fisheries Development Oman SOAC (FDO), a fisheries Investment arm of the Oman Investment Authority (OIA) established to support the aquaculture and fisheries sector to stimulate and develop large-scale sustainable projects, both locally and globally.
Following the contract now signed with AquaBiotech, the Maltese group will provide its consulting and advisory services to help FDO develop the sustainable aquaculture and fisheries sectors in Oman, including the development of business strategies and technical due diligence services.
"The fisheries sector is a vital pillar of Oman's economy," said Badar Said Al Naabi, Group Director of Business Development at Fisheries Development Oman. "Through FDO's strategic investments and initiatives, we aim to enhance Oman’s standing in international fisheries markets while unlocking the untapped potential for aquaculture development."
For his part, AquaBioTech Group CEO, Shane A. Hunter, said this development contract underscores FDO's strong commitment to aquaculture and opens the door to new and emerging market opportunities. "FDO's ambitions for Oman's aquaculture sector are both bold and attainable, and through this partnership, we are dedicated to realising these goals," he added.
FDO's investments in key fisheries infrastructure and business segments are intended to act as catalysts for further growth and diversification in the fisheries sector in the Sultanate of Oman, ensuring long-term sustainability. Its efforts align with the broader objectives of sustainable development and economic diversification outlined in Oman Vision 2040.
So far, the government of Oman has already made significant investments in strategic aquaculture projects, which include seabream cage farming with Blue Waters LLC, semi-intensive shrimp farms in the Al Sharqiyah South governorate - the country closed 2023 with shrimp farming projects worth EUR 323 million (USD 348 million) -, and the construction of a fishing port in Duqm.
However, FDO's plans - on which it will now be advised by AquaBioTech Group - include other and varied areas of investment interest such as broodstock development for various fish and shrimp species; fish/shrimp feed production; shellfish farming including mussel, abalone or oyster; sea cucumber farming; tuna penning/ranching; Seriola/Amberjack farming; microalgae production; macro-algae/seaweed farming; bioprospecting of molecules from marine sources; and, also, ornamental fish/coral propagation.
Moreover, Fisheries Development Oman has also shown interest in the development of land-based RAS farming for various species, including salmon, grouper, and European seabass.
Its new advisor, AquaBioTech, is a recognized specialist in the design, supply, installation, and commissioning of such aquaculture facilities. Its collaborative projects range from a barramundi broodstock, hatchery, and live feed facility in Brunei Darussalam for Barramundi Group, to being the RAS supplier for Viking Aqua's land-based salmon farm in Skipavika, Gulen, Norway.