Oman’s Ministry of Agriculture and Fisheries is considering several proposals for developing aquaculture ventures in the sultanate, which would entail investments reaching in excess of $2 billion, said a report.

The projects promise to ignite the growth of a strong economic sector centring on fish and shrimp farming, the Oman Daily Observer report said quoting a senior ministry official.

Dawood Al Yahyai, director of aquaculture development at the ministry, said the ministry is reviewing 24 applications linked to the implementation of large-scale aquaculture projects.

Al Yahyai said that from the total applications received, six proposals have been approved with their execution likely to commence before the end of this year.

He added that the remaining 18 are at different stages of evaluation, with the promoters undertaking the environmental impact assessment, feasibility study, and other requisite groundwork.

The official made the comments at a recent forum on aquaculture organised by Ithraa, Oman’s inward investment and export development agency, at the Public Authority for Civil Aviation Training Centre in Al Hail North, added the report.