Oman Fisheries Company has appointed Nabeel Salim Rwidi to serve as the company’s new chief executive officer.
Rwidi replaces Sulaiman Al-Ghannami, who resigned on 10 October, 2022, “for personal reasons," one year after his appointment on 1 October, 2021.
Rwidi previously served as the CEO of Blue Waters LLC, a subsidiary of Fisheries Development Oman, which is part of the government-run Oman Investment Authority. Blue Waters LLC produces sea bream (Sparus aurata) in the Gulf of Oman, about 100 kilometers south of Muscat.
“The board of directors decided in its 10 October, 2022, meeting to accept [Al Ghannami's] resignation and began the procedures for appointing a new CEO,” OFC Vice President Support Mohammed Nasser Al Ameri said in a statement issued via the Muscat Stock Exchange.
Al Ghannami’s tenure included the signing of numerous deals to meet the company's goal of doubling its growth in 2022. In November, it renewed a 30-year usufruct agreement with Oman’s Ministry of Agriculture, Fisheries, and Water Resources for the company’s sites in Ghala, Al-Ashkharah, and Soqra. The company also signed a sales and marketing agreement with Manta, Equador-based Transmarina; a separate agreement with Ireland-based Atlantic Dawn for the utilization of its fishing vessels; and a sales and marketing agreement with Al Wusta Fisheries Company.
OFC said in a financial statement it has procured sand sold 1,215 MT of fish under the Atlantic Dawn agreement since it was signed in May 2022, and an additional 1,200 MT of fish from the Al Wusta deal, which was signed in September 2022.
For the nine-month period ending 30 September, 2022, OFC posted a 41.5 percent increase in revenue to OMR 11.16 million (USD 28.9 million, EUR 27.1 million) up year-over-year from OMR 7.89 million (USD 20.4 million, EUR 19.2 million).
Photo courtesy of Oman Fisheries Company
