Sohar: Sohar Industrial City saw a surge in investment activity, according to digital indices of first quarter of this year (2023).
The industrial hub, affiliated to the Public Establishment for Industrial Estates “Madayn”, recently drew 24 applications for investment. Sixteen of the applications materialized in the form of contracts signed for investment in industrial, service and commercial sectors to the tune of RO 44 million.
Sohar Industrial City houses 375 projects, with a total investment volume of RO 2.2 billion. The city, which has a total area of 30 million square meters, provides employment for 13,828 workers, of whom 41.7 percent are Omanis.
Eng. Abdullah Ahmed Al Mayasi, Director General of Sohar Industrial City, said that “Madayn” has made great strides in completing a project to develop the 7th phase of the industrial city.
“Madayn completed 95 percent of the project, which includes a 32-km road network, a water network and a sewerage network. This is in addition to a treatment plant with a capacity of 2,000 cubic metres, a rainwater drainage network, a dyke for protection against floods, an irrigation network and two water supply tanks having a total capacity of 2,700 cubic metres,” Al Mayasi added.
Al Mayasi explained that Madayn also floated a tender for a project to study and evaluate phases 1 to 6 in terms of existing infrastructure, development plans and services for a total area of more than 18 million square meters. The upgrade covers the installation of security gates to raise the efficiency of loading and unloading operations and supply chains (namely by monitoring the entry and exit of trucks to and from the city).
Speaking about the Plastic Complex project, Al Mayasi pointed out that the project began to attract investments for producing polyethylene and plastic bags, with investments worth RO 2 million. The project occupies an area estimated of 12,000 sqm, said Al Mayasi, noting that the industrial city embarked in a cooperation bid with OQ Group to market the project abroad. The step includes organizing visits to major plastic manufacturers in different countries of the world and to offer several incentives, he said.
Al Mayasi stressed that Sohar Industrial City plans to establish a solar cell plant with a capacity of 86 megawatts, as a first stage, to keep pace with the global transition to clean energy. The project, scheduled to be completed by 2025, is expected to contribute towards the realization of Oman’s carbon neutrality strategy (zero carbon emissions) by 2050, he affirmed.
more recommended stories
NCSI Begins Conducts Consumer Confidence Survey
Muscat: The National Center for Statistics.
Muscat Securities Market celebrated the bell ringing ceremony with the appointment of OQ as a liquidity provider for the Ajman Towers Energy Services and OQGN
In its efforts to stimulate the.
Heavy Rains, Flash flood warning issued for parts of Oman
Muscat: Oman on Monday issued Weather.
Oman Oil Price Rises 1.53 US Dollars
Muscat: Oman oil price (May delivery.
Specialists Discover New Species of Banana at Razat Farm in Salalah
Salalah: Specialists managing Sultans’Razat Farm in.
Tax Authority conducts a seminar at Sultan Qaboos University
Muscat: Following up on the “Tax.
Dhofar Municipality allocates RO 4 million to SMEs in 2023
Dhofar Municipality allocates RO 4 million.
Oman weather: MOH postpones 2nd Quriyat Health Forum
MOH postpones second Quriyat Health Forum.
BankDhofar Launches SME Business Banking Account
Muscat: In alignment with Oman Vision.
National Finance Bolsters Youth Interests, Contributes to the Success of Oman Drag Race
Muscat: Demonstrating its resolute commitment to.