Oman National Investment Corporation Holding (ONIC Holding), the investment arm of the Omani government in the field of food security, has announced establishing the first integrated government project for dairy products in the Sultanate.

Named Mozoon Dairy Products, the Company is under incorporation and wholly-owned by the government. Moreover, it is done in participation with several investment funds and firms, with investments nearing $250 million.

The dairy product project is the first of its kind in the Sultanate, Al Watan newspaper reported, adding that it aims to achieve self-sufficiency and boost food security, substitution of imports as well as contribute to efforts in diversifying Oman’s economic diversity.