Joint venture moves ahead as Oman ramps up privatisation initiatives
Oman India Fertiliser Company (Omifco), an Omani-Indian fertiliser joint venture, is exploring a potential listing on the Muscat bourse as part of Oman’s renewed privatisation drive. The company has reached out to banks seeking proposals for the possible flotation, reported newswire.
Omifco’s ownership is split between state-backed energy company OQ (50%) and Indian cooperatives IFFCO and KRIBHCO (25% each), signaling cross-border collaboration in the fertiliser sector
The listing plans are currently in the preliminary stage, with further details on timelines and valuation yet to be disclosed. Industry observers note that the move aligns with Oman’s broader strategy to privatise state assets and attract foreign investment.
