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Oman Agriculture Development Company receives OMR10m compensation



Muscat: The Oman Agriculture Development Company said that the company has received OMR10.34 million from Diwan of Royal Court as full and final settlement of compensation to vacate its Sohar site, said a disclosure statement posted on MSM website.

The company's board last year said it has already reached a settlement with the employees of the company who have initiated claims following termination of their contracts and the board has resolved to dispose some of the company's financial assets in order to pay the settlement amount to the employees.

An extraordinary general meeting held last year approved a proposal to suspend its operation until an alternative site was found to re-start operations.

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