Mubasher: Oman Fisheries Co signed a memorandum of understanding (MoU) with Japanese company Kyumura to develop the former’s fishing fleet through joint projects.
The Omani firm aims to develop its commercial fishing of tuna fish and other high value species in Japan and European states through this cooperation.
Similarly, Oman Fisheries aims to gain experience from the Japanese company to establish a plant with the latest international specifications for value-added marine products.
The collaboration with the Japanese company is one of the most important future projects of Oman Fisheries to ensure and enhance its presence on the map of economic production, according to a bourse filing.
Pilot fishing for the project has already begun with one of Kyumura’s fishing vessels, and there will be another vessel which will join in July along with Oman's recently reoperated fishing fleet.
Oman Fisheries Co turned profitable in the first quarter of 2017, as it achieved profits of OMR 1.3 million, against losses of OMR 446,210 in Q1-16.
