The Ministry of Agriculture, Fisheries and Water Resources and Blue Waters company signed two land development (usufruct) agreements to the tune of RO13.4mn this week [April 18].

The first agreement, as per an article released by the Oman News Agency, is related to tuna dieting, while the second agreement is on finfish farming.

The agreements were signed by Dr Saud Hamoud Al Habsi, the Minister of Agriculture, Fisheries and Water Resources and Sheikh Nasser Sulaiman Al Harthy, the Chairman of Blue Waters’ Board of Directors.

Al Habsi said that the agreements came within the framework of the Ministry’s efforts in expanding fish farming projects which contribute to increasing local fish products, as well as providing job opportunities for Omani youth. The projects are also expected to positively impact and boost the nation’s Gross Domestic Product (GDP).

The usufruct agreement for the tuna dieting project is considered a new initiative on the global level. It targets international markets that import high-quality tuna.

As per the agreement, production capacity is expected to reach 400 tons for the first phase, while the future expansion will increase the production to 2,000 tons.

The project – which is worth RO4.8mn – will be set up across a total area of 193 hectares.

Meanwhile, the finfish farming project will expand its capacity from 3,000 tons to reach 5,000 tons. As per this agreement, the project will be expanded with the development of a new marine area in the Wilayat of Quriyat across a total area of 3.75 million square meters to the tune of RO8.6mn.