Total investment in SOHAR Port and Freezone reaches RO 11.2bn

Sohar: Over the past years, Sohar Port and Freezone has achieved major transformations and has become a national model for construction, development and innovation support. It has also established and developed high quality standards and excelled in the management of ports and free zones. It has also benefited from the strategic location of the Sultanate of Oman as a gateway between the East and the West and integrated it into global supply chains.

Sohar Port and Freezone has attracted investments of more than OMR 11.2 billion (USD 29 billion) to date, reflecting the effective economic performance of the institution. In the first half of 2024, the port and free zone received OMR 1.3 billion (US$ 3.4 billion) in investments, confirming the attractiveness of Sohar Port and Free Zone as a major destination for international trade.

Significant infrastructure improvements were also implemented within the second phase of the free zone’s development, resulting in the provision of 345 hectares of leasable land.

This strategic expansion comes in line with the growing demand for industrial and commercial spaces, and is expected to contribute to increasing communication and economic cooperation with various international markets.

Eng. Abdullah bin Khalfan Al Jabri, Chairman of Sohar Port and Freezone, said: “Sohar Port and Freezone is an active institution in the daily lives of people across the Sultanate of Oman, with goods reaching every home across the country through our facilities. Over the past two decades, the management has been committed to excellence, driven by its strategic importance as a global logistics hub.”

This came during the celebration of Sohar Port and Freezone of two decades of continuous achievements in enhancing commercial and industrial activity. He stressed that the company is constantly working to develop our operations and create strong partnerships that ensure the supply of basic commodities, which contributes to supporting the growth and development of local industries and the national economy in general.

Emil Hochstede, CEO of Sohar Port, said: “The strategic partnership between ASYAD Group and the Port of Rotterdam has played a pivotal role in shaping the success story of Sohar Port and establishing it as a world-class facility with a cutting-edge operational model and approach. Sohar Port is committed to continuing to progress, having formed alliances with other prominent international companies, such as the pioneering initiative with United Solar Holdings to establish the region’s first polysilicon plant, with the aim of attracting transformational investments that support the company’s vision as an industrial cluster and a manufacturing hub for green products.”

He said that Sohar Port and Freezone is today a beacon of economic prosperity, contributing more than 2.1% to the Sultanate of Oman’s GDP and providing around 36,000 direct and indirect jobs. Sohar Port and Freezone is a pioneer in sustainability, adopting initiatives that support and preserve the environment. One of the most prominent of these initiatives is the “LNG Berth” project, which is the first project of its kind in the region to supply ships with LNG generated entirely using solar energy.

This initiative was implemented in cooperation between the Omani “OQ” Group and “TotalEnergies” at a value of 1.6 billion US dollars. The initiative is in line with the goals of Oman Vision 2040 and carbon neutrality goals, while enhancing the services of Sohar Port at the same time. It is worth noting that SOHAR Port and Freezone reflects its commitment to sustainability through initiatives such as the “Sohar Net Zero Alliance”, which aims to reduce emissions and promote renewable energy through clean technologies such as integrating solar energy and exploring clean hydrogen for manufacturing, all of which support the achievement of sustainability in port operations.