Muscat: Atyab Investment’s board has approved a proposal to take 40 per cent stake in a “soya crushing project” along with other investors. Approval for the formation of the company from relevant authorities has yet to be obtained.
Atyab Investment is a wholly-owned subsidiary of Oman Flour Mills, according to a disclosure statement posted on MSM website.
The investment in this project would be OMR5.2 million and the project is likely to be completed by year 2020. As per the feasibility conducted by an independent consultant, the project internal rate of return (IRR) is 15 per cent and the payback period six years.