ASYAD GROUP ACQUIRES AL AMEEN STORES AND REFRIGERATION
- Acquisition deal improves efficiency of Oman’s cold chain ecosystem
- Building new partnerships with the private sector to operate and manage cold chain services
- Asyad Group aims to obtain international quality certification for cold chain operations to introduce local exports to global markets
- Data centralization and analysis to cater to national research center’s needs and keep abreast with new market trends
As part of Asyad Group’s plan for expanding cold chain logistics services in Oman, Asyad announced the acquisition of 100 percent stake of Al Ameen Stores and Refrigeration Company, a wholly owned subsidiary of Oman Fisheries Company, as well as its assets in a deal worth OMR 3.1M.
By expanding its assets in the cold chain and storage sector, Asyad Group aims to provide fully integrated supply and logistics services in Oman and upgrade foodstuff preservation and refrigeration specifications which will effectively reduce local production loss and waste rates. Such enhanced cold storage capabilities will also add value to local products to become export-ready and improve capacities to re-export imported goods by obtaining international quality certifications. Additionally, this step will transform Oman into a cold chain logistics hub for regional and global markets.
Asyad Group hopes to utilize this deal at a time of increasing need for reliable logistics solutions to strengthen priority industries, such as fisheries, food, and pharmaceuticals industries, identified in Oman Vision 2040 as enablers of economic diversification and job creation for Omanis. Providing such solutions will minimize the current 35-45% loss of different types of perishable goods.
Asyad plans to provide world-class cold chain solutions in Oman and to attract investments by major multinational corporations and introduce the best international practices, which will boost operational performance and provide more business opportunities, especially for small and medium enterprises. In this regard, Asyad sets to engage and enhance the contribution of Omani private companies in developing the refrigerated warehousing and transportation sectors, by organizing their business, and helping them handle larger volumes of various fresh consumables and perishables during transportation, to maintain the products’ high quality on delivery. The group will also help companies comply with cold chain international standards to enable domestic goods, foodstuff, and re-exports to reach global markets.
In addition to improving processes and optimizing investment in the cold storage sector of fresh consumables and perishable goods, Asyad group understands the significance of data centralization and analysis to ensure proper support to national research centers, and adaptation to new and projected market trends.
Asyad Group, the integrated logistics group in the Middle East providing services across ports, freezones and shipping, was established in 2016 to maximize the financial returns and economic impact of government logistics investments. Asyad has been tasked by the government to supervise the implementation of the Sultanate of Oman Logistics Strategy 2040 (SOLS 2040).