Al Bashair plans to invest OMR37 million in red meat project

Muscat: Al Bashair Meat Company, which aims to provide fresh red meat to cover the shortage in local production, will invest OMR37 million during the initial stages of the project.
The new company, which hopes to achieve high sufficiency by using state-of-the-art technology and business operations, said the shortage of red meat currently stands at 80 per cent.
The company’s founding assembly recently held its first meeting under the chairmanship of Dr Rashid bin Salim Al Masrouri, chairman of the Founding Committee and chairman of the Oman Food Investment Holding Company.
The meeting was attended by representatives of the funds and the investment companies investing in the project — Oman Food Investment Holding Company, Oman National Investments Development Company, Oman Investment Corporation, Civil Service Pension Fund and Arab Agriculture Development and Investment Authority.
The meeting discussed a report of the founding committee on the measures adopted to incorporate the company, a study on the cost of incorporation and getting approval, the election of new company board members, the appointment of auditors and fixing their fees for the first year.
Mohammed bin ObaidAl Mazroui, chairman of the Arab Authority for Investment and Agricultural Development said the authority is considering several investment projects, such as dairy production collection and a manufacturing project in the Governorate of Dhofar, a project for the production of vegetables using hydroponic technology and a project for chicken.
Mohammed bin Salim Al Awaid, representative of the Oman National Animal Wealth Development at the Al Bashair Meet Company said the project is a translation of the government’s directives and ambitious plans to achieve food security and added value for the Omani economy. Moreover, the project will generate job opportunities for Omanis.
Saleh bin Mohammed Al Shanfari, member of the founding committee and chief executive officer of Oman Food Investment Holding said the company will continue the initiatives in food security, especially in the projects that will enhance the Sultanate's position as a hub for food products manufacturing and production.