Musandam, 3 Jun (ONA) --- Musandam Global Investment company and its Turkish business partners today signed an agreement to establish Musandam Drydock and Marine Industries Company.

The agreement deals with launching a strategic project in Musandam Governorate, with an investment cost of more than RO 5 million in its first phase, to provide a set of vital services like construction and maintenance of fish farming cages, coastal and commercial fishing vessels, marine tugs, service vessels and transport vessels.

The company will take steps to meet the needs of the Omani market and neighbouring regional markets, besides enhancing industrial integration in the marine and fisheries services sector. The project will keep pace with national trends in promoting food security and sustainable industrial growth.

The signing ceremony was attended by Dr. Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources, and Sayyid Ibrahim Said Al Busaidi, Governor of Musandam.

--- Ends/Bishara/AG