Investments in Sohar Freezone, adjoining the industrial port at Suhar, have now climbed to a total of RO 353 million (approx. $918 million), according to Omar bin Mahmoud al Mahrizi (pictured), CEO. Al Mahrizi said in an interview published in Manatq, a supplement issued along with Duqm Economist (newsletter of the Public Authority for Special Economic Zones and Free Zones), said the figure does not include investments towards infrastructure and services provides within the free zone.
As many as 44 industrial are now in operation at the free zone related to minerals, petrochemicals and food industries, logistics, clean energy, iron and steel, chemicals and textiles among other sectors. The Zone is also home to a number of companies leasing warehouse space and offices. Projects under construction include cold stage capacity by Al Hosn Investment, Sohar Qabas’s solar power plant, restrooms for truck drivers, a quartz and minerals processing plant and the Sanvira Carbon project.
These new investments under implementation are valued at around RO 76.5 million, he said. This year, the Zone signed a leasing agreement with Eagle Ceramics to establish an advanced factory for producing ceramics over an area of 20,000 sqm at a cost of $1.2 million, said Al Mahrizi. “We recently signed an agreement to establish a factory for producing titanium dioxide, covering over 120,000 sqm, offering a production capacity of 150,000 tonnes annually, at a cost of RO 43 million.
Our facilities, services and infrastructure will contribute to meeting the requirements of the project by providing raw materials and export of the final product due to the port’s proximity to the target markets. There are also more projects in the minerals sector that will be developed in the near future”, Al Mahrizi explained. The second phase, currently under development, covers an area of 516 hectares,” said the CEO. “
“The Zone was designed based on the system of specialised and integrated industrial complexes, where companies and factories are distributed in a manner that ensures highest level of flexibility in business. These complexes provide infrastructure and modern network of roads, water and electricity supply in the developed phases. Work has also been done to provide ideal warehouses and offices for businesses, industries and logistics service providers.” Sohar Port and Free Zone, he stated, will contribute about 2.7 per cent to the country’s Gross Domestic Product (GDP). In terms of its In-Country Value (ICV) contribution, the port and freez has awarded 13 per cent of contracts to local companies, most of them SMEs. The Zone has been able to provide thousands of direct and indirect jobs and support youth training plans as well.
As many as 44 industrial are now in operation at the free zone related to minerals, petrochemicals and food industries, logistics, clean energy, iron and steel, chemicals and textiles among other sectors. The Zone is also home to a number of companies leasing warehouse space and offices. Projects under construction include cold stage capacity by Al Hosn Investment, Sohar Qabas’s solar power plant, restrooms for truck drivers, a quartz and minerals processing plant and the Sanvira Carbon project.
These new investments under implementation are valued at around RO 76.5 million, he said. This year, the Zone signed a leasing agreement with Eagle Ceramics to establish an advanced factory for producing ceramics over an area of 20,000 sqm at a cost of $1.2 million, said Al Mahrizi. “We recently signed an agreement to establish a factory for producing titanium dioxide, covering over 120,000 sqm, offering a production capacity of 150,000 tonnes annually, at a cost of RO 43 million.
Our facilities, services and infrastructure will contribute to meeting the requirements of the project by providing raw materials and export of the final product due to the port’s proximity to the target markets. There are also more projects in the minerals sector that will be developed in the near future”, Al Mahrizi explained. The second phase, currently under development, covers an area of 516 hectares,” said the CEO. “
“The Zone was designed based on the system of specialised and integrated industrial complexes, where companies and factories are distributed in a manner that ensures highest level of flexibility in business. These complexes provide infrastructure and modern network of roads, water and electricity supply in the developed phases. Work has also been done to provide ideal warehouses and offices for businesses, industries and logistics service providers.” Sohar Port and Free Zone, he stated, will contribute about 2.7 per cent to the country’s Gross Domestic Product (GDP). In terms of its In-Country Value (ICV) contribution, the port and freez has awarded 13 per cent of contracts to local companies, most of them SMEs. The Zone has been able to provide thousands of direct and indirect jobs and support youth training plans as well.
Source Link: www.omanobserver.om
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