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Aquaculture Magazine reports:
With an allocation of USD 1.2 billon from the Government
Fisheries Development Oman (FDO), a fisheries investment arm of the Oman Investment Authority (OIA), has officially signed an advisory contract with AquaBioTech Group, an international leader in aquaculture, fisheries and marine consulting and development company. The Malta-based company will work with an allocation of USD 1.2 billon from the Government of Oman.
Badar Said Al Naabi, Group Director of Business Development at Fisheries Development Oman, 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.”
Under the new contract, AquaBioTech Group will provide a comprehensive range of consulting and advisory services to support Fisheries Development Oman to develop sustainable aquaculture and fisheries sector in the Sultanate of Oman. Their support will include business strategy development and technical due diligence services.
Significant investments
FDO is mandated to coinvest in diverse aquaculture, fisheries and marine biotechnology industries across Oman, with a robust funding allocation of USD 1.2 billon from the Government of Oman. The government has already made significant investments in strategic aquaculture projects, including seabream cage farming with Blue Waters, semi-intensive farms in the Al Sharqiyah South governorate, and the construction of a fishing port in Duqm.
FDO’s investments in key fishery infrastructures and business segments will act as a catalyst for further growth and diversification in the fishery sector ensuring long term sustainability. FDO’s efforts align with the broader objectives for sustainable development and economic diversification as highlighted in Oman Vision 2040.
FDO’s ambitions
Upon signing the contract, Shane A. Hunter, AquaBioTech Group CEO, assured: “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 realizing these goals.”
Other areas of investment interest that FDO is considering include fish and shrimp feed production, microalgae production, mussel farming, broodstock development for various fish and shrimp species, abalone farming, macroalgae, and seaweed farming, sea cucumber farming, oyster farming, ornamental fish and coral propagation, tuna penning, ranching, seriola and amberjack farming, land bases RAS farming for various species, including salmon, grouper and European seabass, bioprospecting of molecules from marine sources.
25 years of experience
AquaBioTech Group is a global consulting and engineering company with over 25 years of experience in aquaculture, fisheries and other aquatic sciences. The Malta-based group is an independent aquaculture, fisheries and marine environmental consulting, testing, research and development company operating on a global scale with clients and projects in over 55 countries. Each division of the company is focused on a specialized field of work related to the aquatic environment.
Primarily involved in Consulting, Advisory and Training (CAT) for aquaculture, fisheries and other marine / oceanographic projects; Testing, Research, Inspection and Certification (TRIC) work in their aquatic research facilities; and the development of land-based fish and shrimp farms and aquatic research facilities using their proprietary RAS technology in their Design Engineering Technology Services (DETS) Division, they seek to offer a complete and holistic service to our clients, they say.
Staff working at AquaBioTech Group are all considered specialists in their relevant area of work and the company has sought to create a multi-national team of more than 115 in-house experts from more than thirty-five countries that have a variety of backgrounds and experiences bringing a wealth of knowledge and experience to any assignment undertaken.
AquaBioTech Group is an export focused business that has consistently derived more than 98% of its business from outside of Malta and continues to seek to internationalize its business in all three core sectors of the business.
