© FDO
FDO is mandated to co-invest in diverse aquaculture, fisheries and marine biotechnology industries across Oman, with a funding allocation of $1.2 billion from the Government of Oman. The government has already made significant investments in strategic aquaculture projects, including sea bream cage farming with Blue Waters LLC, semi-intensive shrimp farms in the Al Sharqiyah South governorate, and the construction of a fishing port in Duqm.
Other areas of investment interest that FDO is considering include; aquafeed production; microalgae production; mussel farming; broodstock development for various fish and shrimp species; abalone farming; algae farming; sea cucumber farming; oyster farming; ornamental fish and coral propagation; tuna ranching; seriola farming; land-based RAS farming for various species, including salmon, grouper and seabass; as well as bioprospecting of molecules from marine sources.
Following the signing of the new contract FDO’s Badar Said Al Naabi stated: "The fisheries sector is a vital pillar of Oman’s economy. 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."
Shane Hunter, CEO of AquaBioTech Group, added: "FDO's ambitions for Oman's aquaculture sector are both bold and attainable, and through this partnership, we are dedicated to realising these goals."
