Mubasher: Oman International Development and Investment Company (Ominvest) said Tuesday that its board of directors approved the establishment of a new subsidiary with an authorised capital of OMR 50 million and paid-in capital worth OMR 20 million. 

The new company’s capital will be divided into 98% for Ominvest, 1% for Al Omaniya Financial Services and 1% for Salalah Beach Resort.

The Muscat listed company said that the new subsidiary comes in the frame of restructuring of the business structure under a new strategy.