Mubasher: Atyab Investment LLC, a wholly-owned subsidiary of Oman Flour Mills (OFM), on Sunday announced that its board has approved a 40% shareholding in a soya crushing project, along with other investors.
The company would invest OMR 5.2 million in this project, which is likely to be completed in 2020, the company said in a bourse statement.
The company anticipated that the internal rate of return (IRR) of the project would be 15%, with a six-year payback period.
OFM’s profits declined 25.8% to OMR 2.88 million in the second quarter of 2017, as compared to the year-ago period.
