Oman: $13.7mln moringa tree project launched in Thumrait
An usufruct contract covering an area of 10.5mn sqm in the Hanfit area of Thumrait was signed between Ministry of Housing and Urban Planning and Ministry of Agriculture, Fisheries and Water Resources. Led by Trufud, the project has an investment value exceeding RO5.3mn.
The agreement was signed in the presence of H H Sayyid Marwan bin Turki al Said, Governor of Dhofar, H E Dr Khalfan bin Said al Shuaili, Minister of Housing and Urban Planning, H E Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources, and officials of Trufud.
The project is a unique investment initiative that links agriculture, manufacturing and supply chains, as part of Oman's efforts to promote sustainable agricultural investment and achieve food security. It is expected to yield annual revenues of RO4mn to RO5mn through exports of moringa-based products to markets in North America, Europe and Asia.
The project is also expected to generate more than 500 direct job opportunities and additional roles in logistics, packaging and supply services. According to officials, the project will enhance local entrepreneurship and contribute to the economic development of Dhofar.
The moringa tree is known for its nutritional and medicinal properties and the project includes facilities for production of oils and powders used in health products.
In addition to commercial goals, the project includes environmental benefits. Planting 15mn moringa trees is expected to absorb more than 400,000 tonnes of carbon dioxide annually.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
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