The Public Authority for Special Economic Zones and Free Zones (OPAZ), Oman signed investment agreements to establish a group of new projects in the Special Economic Zone at Duqm (SEZAD), Salalah Free Zone, and Khazaen Economic City.
The investment agreements stipulate the establishment of projects across several key economic sectors, including electric vehicle batteries, specialised steel, cement and pipe manufacturing plants, as well as glue production, tile cutting and processing, in addition to a pharmaceutical warehouse.
The agreements reflect OPAZ’s efforts to attract new investments and localise a range of high value projects that contribute to economic diversification and enhance the added value of Oman’s industries, in line with the goals of Oman Vision 2040.
Qais Mohammed Al Yousef, Chairman of OPAZ, affirmed that the signing of these agreements, with a total investment value exceeding RO 200 million, represents an important step toward enhancing economic diversification across the governorates and reinforcing Oman’s position as a regional hub for high-quality investments.
The signed investment agreements include the establishment of a steel mould manufacturing plant in the Special Economic Zone at Duqm by Alshaya Group, with investments amounting to RO 41 million and a production capacity of around 306,000 metric tonnes annually in Phase I.
An investment agreement was also signed during the ceremony to establish a project for the manufacturing of active anode materials used in lithium batteries for electric vehicles in the Salalah Free Zone, with an investment of RO 35 million.
Khazaen Economic City signed four new investment agreements reflecting its continued attractiveness as a quality investment destination in manufacturing and pharmaceutical industries, with total investments of over RO 12.8 million.
The first agreement involves the establishment of a glue production plant and a specialised unit for tile cutting and processing, with investments of RO 6 million by Al Fadan International.
The second agreement covers the establishment of a plant specialised in infrastructure products, site development and cement works, with an investment of RO 5 million by Al SUMMITS for Trading and Industry.
The third agreement is for the establishment of an advanced pharmaceutical warehouse by Overseas Investment at a cost of RO 1.2 million.
The fourth agreement is for the establishment of a plastic pipe manufacturing plant producing polyethylene (PE) and polyvinyl chloride (PVC) pipes, with an investment of RO 600,000 by Virgent Forest Trading, signed by Tie Hao Zhang, General Manager of the company.
The Public Authority for Special Economic Zones and Free Zones also signed a memorandum of cooperation with Majan Gulf Investment aimed at structuring three investment opportunities worth more than RO 110 million, studying project requirements, and allocating suitable spaces for implementation. The company plans to develop a number of economic and investment projects within the zones under OPAZ’s supervision.
