32 Usufruct Contracts Signed in Agricultural, Industrial, Livestock Sectors
Muscat, 9 Oct (ONA) — The Ministry of Housing and Urban Planning, in cooperation with the Ministry of Agriculture, Fisheries and Water Resources and the Small and Medium Enterprises Development Authority "Riyada," signed 32 usufruct contracts with a number of entrepreneurs today in the agricultural, industrial, and livestock production sectors.
The contracts represent an investment value exceeding RO 8.2 million and cover an area of 7 million square meters, signed on the sidelines of Oman Home & Building Expo at Oman Convention and Exhibition Centre.
These contracts were distributed as 21 usufruct contracts for entrepreneurs from small and medium enterprises in the industrial sector. These cover a total area exceeding 11,000 square meters with an investment value of RO 1.2 million. They encompass various fields such as vehicle repair, aluminum and carpentry workshops, building materials warehouses, soil testing laboratories, boat and marine unit maintenance, blacksmithing workshops, and modern laundries, distributed across the North Al Batinah, South Al Batinah, Al Wusta, A’Dhahirah and A’Dakhiliyah governorates.
The pacts also included the signing of 11 agricultural contracts in the North Al Batinah, South Al Batinah, North A’Sharqiyah, A’Dhahirah and A’Dakhiliyah governorates. These cover a total area exceeding 1,400 acres with an investment value of RO 5.7 million. The projects involve organic farming, meat production, feed manufacturing, fruit and natural oil cultivation, ostrich farming, papaya production, red sugar manufacturing, in addition to specialized projects for producing nutritional supplements and natural herbs.
The Ministry of Housing and Urban Planning emphasized that these contracts enable entrepreneurs and owners of small and medium enterprises by providing them with viable investment opportunities that enhance the diversification of the economic base and contribute to achieving self-sufficiency in food security. They also generate new job opportunities and stimulate the local investment environment in vital sectors directly linked to food security.
The signing ceremony was attended by Eng. Hamad Ali Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, Dr. Ahmed Nasser Al Bakri, Undersecretary of the Ministry of Agriculture, Fisheries and Water Resources for Agriculture, along with a number of investors and entrepreneurs.
— Ends/AH
