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Image courtesy: Times of Oman

Sandan to develop $258m light industries park in Oman

MUSCAT, February 10, 2016

Sandan Development is set to develop Oman's first integrated light industries park at a cost of RO100 million ($258.8 million), according to a report.
 
The project will cover more than 250,000 sq m and will be located on the Muscat Expressway, said the Muscat Daily report.
 
The project will host 2,200 workshops and exhibition halls for building materials and automobiles, 400 offices and 1,800 residential units for workers, it said.
 
It will also feature facilities such as hypermarkets, restaurants, hospitals and mosques.
 
A group of Omani private investors are behind the project, according to Said Al Rashdi, chief executive officer.
 
“The financing of the project is probably not going to be from banks. We expect to have enough cash flow to cater to the project,” he was quoted as saying.
 
The firm will float the tender for construction in April and work will start by the middle of this year. It is scheduled to be completed in two years, said the report.
 
PwC has been assigned a comprehensive feasibility study for the project, while leading German company Huller will conduct a technical feasibility study, it added.



Tags: development | industries | Park | Light |

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