(MENAFN) Oman Flour Mills' board of directors said that they have approved the company's plan to build a flour mill in Sohar with an installed capacity to produce 500 tons of wheat flour per day, Times of Oman reported.
Oman Flour Mills will have a 60 per cent stake in the joint venture, with the remaining 40 per cent equity to be held by a UAE-based businessman, with the project estimated to cost USD40.25 million and the state-of-the-art flour mill expected to commence operation by the end of 2017.
The company said that the planned mill will be capable of producing all types of specialty flours and will cater to the Al Batinah and Al Dhahira regions of the Sultanate and will develop exports to the GCC and other international markets, while a planned agro-bulk terminal at Sohar Port will support the proposed new joint venture flour mill initiated by Oman Flour Mills
The planned terminal, which is projected to contribute to the development of the Sultanate's first sugar refinery planned at the port, will handle grain products for the Public Authority for Strategic Food Reserves (PASFR) and the storage facility will be operated by Oman Flour Mills.
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