HIC Contributes to the Sultanate’s Growth in Aquaculture Knowledge
Muscat, 24th March 2015 — Under the auspices of His Excellency Dr. Hamad Al Aufi, the undersecretary of Ministry of Agriculture and Fisheries for Fisheries, a one day seminar was organized by Al Hosn Investment Company (HIC) under the title of ‘Aquaculture and its applications in Tilapia and Shrimp Farming’ conducted by world renowned scientist and past president of the World Aquaculture Society, Dr. Kevin Fitzsimmons on 15th of March 2015 in City Season Hotel Muscat. Dr. Kevin is the laureate of the Aquaculture CRSP outstanding service award in 2007 and shares knowledge of over 20 years in the aquaculture industry as a professor of environmental science in the University of Arizona, as well as serving as the director of international programs at the university.
The seminar involved the majority of stakeholders in the growing aquaculture sector in the Sultanate where discussions consisted of the various aspects of aquaculture, its technological and scientific advancements and modes of introducing these modern applications into the fish farming practices in Oman. The next day an exclusive seminar was organized with SQU’s College of Agriculture and Marine Sciences faculty to discuss the latest in integration of aquaculture and agriculture.
According to the Ministry of Agriculture and Fisheries 2014 report, the fisheries and aquaculture sectors contribute to more than 184 million Omani Riyals of the total production of approximately 210,000 tonnes; achieving a growth of 61% in production quantity and 241% increase in value over the past 14 years.
His Excellency Ahmed Rashid Al Mamari, Vice Chairman of the Company said about HIC’s involvement in the aquaculture movement that “We consider aquaculture as a strategic initiative for Oman and we are proud to provide support to the Ministry of Agriculture and Fisheries for Fisheries by organizing seminars to help promote this sector”. Mr. Samir Saied, CEO of the Company said about HIC’s investments in aquaculture that “Aquaculture is a focus sector for the company and we are currently exploring several Greenfield and Private Equity investments in aquaculture. The most recent one is the acquisition of 15% in KAT Aqua, a company launching in Oman introducing the world’s first Hamour farm using the recirculation technology”.
About The Company
Al-Hosn Investment Company S.A.O.C (HIC) is a partnership between Qatar Holding LLC and the Ministry of Finance of the Sultanate of Oman. Each of the Company’s two shareholders holds 50% of the authorized share capital. Moving away from real estate, HIC is now focusing on more innovative aquaculture or hydroponic agriculture where its subsidiary Water and Life Agriculture recently started the production of greenhouse hydroponic tomatoes for the first time in Oman. The Company is also pioneering mezzanine finance in Oman. HIC targets vital economic sectors including aquaculture, infrastructure, healthcare, education, manufacturing and TMT.