Investments in Khazaen Economic City reach RO 323 Million

Volume of investments in Khazaen Economic City reach RO 323 million at the end of the last quarter of 2023

Muscat: Khazaen Economic City continues to invest in the work of implementing infrastructure and providing all services to the lands so that they are ready and prepared for investment and have all services and facilities available.

Khazaen seeks to be the first investment destination in the Sultanate of Oman by providing an integrated business environment for investors to work, live and entertain within the city.

Eng. Salem bin Sulaiman Al Dhahli, CEO of Khazaen Economic City, stressed that the city was able to attract a large number of local and foreign investments in key sectors such as the logistics, industrial, food, pharmaceutical and clean energy sectors.

He said in a statement to the Oman News Agency that the total value of the volume of investments that the city attracted until the last quarter of 2023 amounted to about RO 323 million, equivalent to $ 840 million US dollars, as 110 investment agreements were signed from 17 countries around the world during 30 years. One month since the launch of the city, the number of projects under construction has reached 30 projects in various major economic sectors.

He explained that the number of investment agreements in the logistics sector reached 20 investment agreements with a total value of 65 million Omani riyals, represented in several projects, most notably Khazaen Land Port, the logistics center of the Qatari Gulf Warehousing Company, the logistics center of the Saudi “Naqel Express” company, and the logistics center of the Qatari “SARCO” company. And the logistics center of the Omani company “Nol”, while an agreement was signed with the National Gas Company to establish the first integrated truck rest station in the Sultanate of Oman, with an area of ​​50 thousand square meters and an investment value of 2.7 million Omani riyals.

He stressed that Khazaen Economic City is witnessing the progress of work and construction in the most prominent strategic projects, such as the Khazaen Central Market project for vegetables and fruits, in which the completion rate has reached about 85 percent, and is expected to open during the second quarter of next year.

Eng. Salem bin Sulaiman Al Dhahli pointed out the progress of the implementation of the workers’ village, one of the sustainability solutions in the city, as the village provides 2,500 beds for workers and 300 rooms for employees, and provides subsistence, entertainment, health, and shopping services. The investment value of the first workers’ village amounts to 12 million Omani riyals, with an area of ​​55,000 square meters. It is expected to open in the middle of next year.

He added that there are currently projects under construction in the food sector, most notably the Salalah Mills Factory for frozen “baked goods”, the Crystal Barka Carbonated Water Factory, the Yasmina Al Sharq Food Manufacturing Complex, in addition to the Al Safwa Factory for Hospitality and Packaging Services, noting that 15 investment agreements have been signed in the food sector with a total value amounted to RO 89 million.

An investment agreement was recently signed with Al-Muataz Al-Barir Investment Company to establish ready-made factories that support the food manufacturing sector.

He said that the number of agreements signed in the industrial sector in Khazaen Economic City reached 65 investment agreements with an investment value amounting to 92 million Omani riyals, represented in several investments, most notably the National Paper Products Factory, the Zizophone Factory for health products, a fuel factory for producing biofuels, and “Factory 44.01” (the first factory). Environment in the world uses mineralization technology).

The CEO of Khazaen Economic City indicated that the number of agreements signed in the pharmaceutical sector reached 10 agreements with an investment value amounting to 77 million Omani riyals, represented by the “Biogenmix” factory for the production of insulin, Opal Pharmaceuticals (a biovaccine factory), and Al-Kanz Business Factory (an implant factory). Dental) and Miran Pharmaceuticals Factory (medical equipment factory). Khazaen is an integrated economic city being developed in the South Al Batinah Governorate and the first project of its kind and an integrated economic zone with two free zones being developed in partnership between the public and private sectors.

It enjoys a strategic location on the Al Batinah Expressway and represents an extension of the population growth and urban development of the Muscat Governorate.