JBS adds to Middle East presence with Oman venture

Core Insights - JBS is establishing a joint venture in Oman with Oman Food Capital to enhance its manufacturing presence in the Middle East [1][2] - The venture will consolidate two production assets in Oman, focusing on poultry and meat processing [2][3] Group 1: Investment Details - JBS will invest $150 million in equity for an 80% stake in the joint venture, while Oman Food Capital will hold the remaining 20% [2] - The investment will primarily support the completion of A'Namaa's poultry plant and Al Bashayer's beef and lamb processing facility [3] Group 2: Production Capacity and Goals - The venture aims for a static industrial production capacity of approximately 300,000 tonnes per year, translating to daily processing of about 1,000 cattle, 5,000 lambs, and 600,000 chickens [4] - Production at the beef and lamb facility is expected to commence within six months, while the poultry site is set to start operations within a year [5] Group 3: Strategic Objectives - The initiative aligns with Oman's Vision 2040 program, which aims to diversify the economy and ensure food security for the population [3] - The venture will position Oman as a center for halal product production suitable for export to various markets [4]