Grain storage facility worth $34m to be built at Oman’s Sohar Port
Oman-based Sohar Flour Mills has announced plans to construct steel silos with a grain storage capacity of 110,000t at Sohar Port.
In a statement to Muscat Securities Market, Sohar Flour Mills revealed that it signed an agreement with the Public Authority for Stores and Food Reserve on 5 April, 2018.
Under the terms of the agreement, the Public Authority for Stores and Food Reserve will pay a fixed rent to Sohar Flour Mills to store 70,000t of grains at the facility.
According to Sohar Flour Mills, the construction of the steel silos will cost approximately $33.7m (OMR13m) and is expected to be completed in two years.
Sohar Flour Mill is a partnership between Atyab Investments, which is wholly owned by Oman Flour Mills, and Essa Al Ghurair Investments, a company based in the UAE.