Sunday 16 June 2019

Madayn signs $10m deal to develop Raysut 2

MUSCAT, January 9, 2019

Oman’s Public Establishment for Industrial Estates – Madayn has signed an agreement with Al Hashemi and Al Rawas Trading and Contracting for the infrastructure development project for Raysut Industrial City (Raysut 2) at a total cost of RO4 million ($10.36 million) and over an area of one million sq m.

The agreement was signed by Ahmed bin Hassan Al Dheeb, chairman of Madayn's board of directors, and Salah Salem bin Mohiyaddin bin Saif, chief executive officer of Al Hashemi and Al Rawas Trading and Contracting Company.

Al Dheeb said that the agreement of expanding Raysut Industrial City comes as result of the industrial sector's requirements in the Dhofar governorate and the constant demand from investors to localise more projects in Raysut Industrial City.

“This agreement shall provide new infrastructure services and develop the existing ones. All the industrial cities that fall under the umbrella of Madayn are receiving great demand due to their strategic locations across the sultanate, which eventually stimulate investment and business development," Al Dheeb noted.

He added: “As for Raysut Industrial City, it is strategically located close to the Port of Salalah and it offers a line-up of incentives and services to those wishing to localise their businesses and commence their industrial projects. In fact, Madayn undertakes constant efforts to carry out feasibility studies for the expansion of the industrial cities and consequently develop plans based on these studies when suitable lands are available."

Musallam bin Mohammed Al Shehri, assistant chief executive officer of Madayn for Operations, said: “Raysut Industrial City's phase 2 infrastructure development project comes as part of these projects which have economic and social dimensions that directly contribute to a comprehensive and sustainable development.

 “The investment operations in these expansions have already begun, as the lease ratio has touched nearly 90 per cent of the total areas that have been identified for the project. This is a clear indication of the high demand by local and foreign investors to expand their businesses especially after the issuance of Madayn's new investment regulations, which have simplified the procedures and offer a package of incentives to transform the industrial cities in the Sultanate into an attractive investment environment."

Al Shehri pointed out that through this project and as per the agreement, Madayn will establish an integrated network of roads, pavements, drainage systems, fire extinguishing systems, and irrigation systems over 7.9 km.

Additionally, water networks will be provided over a distance of 8.3 km. The project will also include the provision of communication and gas networks, in addition to a wastewater treatment plant with a capacity of 1,000 cu m per day.

Moreover, the project will take into consideration the implementation of advanced technology in lighting, and latest specifications and technologies for services' networks and systems within Raysut Industrial City. The project is expected to be completed during the third quarter of 2020.

Raysut Industrial City was inaugurated in 1992 with a total area of 1,500,000 sq m and six projects. By the end of the first half of 2018, the total area of the industrial city has touched 3,810,479 sq m with 194 operating projects.

A variety of industries are present in Raysut Industrial City including food industry, plastics and packaging, bottling of drinking water, medical products, iron formation, warehouses, and logistical support. – TradeArabia News Service

Tags: Public Establishment for Industrial Estates | Madayn |

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