The Arab Authority for Agricultural Investment and Development (AAAID), a regional multilateral financial institution, has chalked out plans to set up a major integrated dairy project in Oman. It is also conducting feasibility studies for a large aquaculture production centre in the country. The dairy project, which will support local farmers, would have the capacity to process around 50 tonnes of milk each day. The project is estimated to cost around RO17mn, with AAAID providing nearly 20%, while the remaining funds would be raised through a mix of debt and equity investment. He said planning for the aquaculture project is in the initial stages and actual investment would be decided only after the feasibility study is completed. However, he clarified that AAAID invests only in projects of more than USD20mn in size. (Muscat Daily)