26/09/2017 09:38 AST

Oman-based Mazoon Dairy Company has awarded a RO28 million ($72.4 million) construction contract to Al Adrak Trading and Contracting for its upcoming dairy project in Buraimi region, said a report.

The dairy, being built at a cost of RO100 million ($258 million), is set to become the biggest such project in the sultanate, reported the Times of Oman.

Work will start next month and the project is due for completion in the third quarter of 2018, it stated.

The scope of work includes construction of main dairy farm, feeding centre, milking parlous, staff accommodation, office buildings, utilities and connecting roads.

Starting from an initial herd of 4,000 Holstein-Friesian cows, the farm will have 25,000 cattle by 2026, said the report.

The company anticipates that the first of the initial phase of 4,000 cows will start arriving at the farm in early 2018, while the project will start production by the third quarter of 2018, it added.

Backed by the Oman Food Investment Company alongside government pension and investment funds, Mazoon Dairy will provide home-produced dairy and juice products.

Mazoon Dairy’s product range will cover a diverse mix of dairy and juice products, including milk, yoghurt, laban, cheese, ice cream and juices, said the report.

The project is being funded through a RO50-million equity and a RO50-million loan provided by Oman Arab Bank, it added.


Trade Arabia

Ticker Price Volume
SABIC 121.95 3,746,252
STC 83.22 201,653
SAICO 20.39 1,010,861
ALMARAI 59.31 892,729
PETRORABIGH 29.45 1,293,815
SACO 131.99 6,619
BJAZ 13.05 30,152,720
Corporate governance vital in fostering competitiveness

22/04/2018

Over 300 leaders of government, global and local organizations will assemble at the upcoming ‘Governance in Focus: Boosting Competitiveness in a New Business Paradigm’ Forum to be held on April 25 at

Saudi Gazette

Dubai economic growth slows in 2017

22/04/2018

Dubai’s economy registered slower growth in 2017, according to official figures, coming in below the government’s official forecast. The emirate’s GDP grew 2.6 percent to 389 billion dirhams (SR381 b

Arab News

Sharjah’s Arada targets Dh2bn of sales by 2019 as it plans Dubai debut

22/04/2018

Arada, the Sharjah-based real estate developer backed by the son of Saudi Prince Alwaleed bin Talal, is targeting Dh2 billion of revenues by next April, as it progresses unit sales on two schemes in

The National

QFC hosts tax event to update its firms on new rules

22/04/2018

The Qatar Financial Centre (QFC) recently held an event to update its firms on the new rules being introduced globally to automatically exchange financial accounts information between countries.

Gulf Times

Workshop on financial planning held

22/04/2018

The Public Establishment for Industrial Estates (PEIE), in cooperation with Muscat Securities Market (MSM), organised recently an awareness workshop on financial planning as part of MSM’s initiative

Times of Oman