Oman’s Sur Industrial Estate is witnessing an increased demand and the total value of investment for the localised projects in the estate has touched RO1.9 billion ($4.92 billion), said a top official.

While it is currently studying a number of applications to establish and localise new projects, the next phase will see developed lands expanded to embrace more industrial projects, added Abdullah bin Khamis Al Mukhaini, director general of Sur Industrial Estate.

A number of investors will develop residential complexes and service facilities to better serve the employees working in the existing companies in the estate, he explained.

"The economic development and expansion of infrastructure services, ports, airports and advanced road networks, witnessed by the Sultanate, will significantly rise the demand from investors from within and outside Oman. This will be positively reflected on the high rate of investment value in the various industrial estates."

The number of localised factories in Sur Industrial Estate has reached 27 varying between liquefied natural gas, urea, ammonia, ready-mixed concrete and cement products including bricks and tiles, marble factories, plastic bags, fishing industries, wooden furniture, among other fields.

"Around 27 per cent of the total leasable space (23.7 million sq m) is already occupied in Sur Industrial Estate. The estate embodies an economic significance for the country as it is embracing the LNG complex, which contributes 12 per cent to the GDP of the Sultanate. The estate also comprises a plant of urea and ammonia, in addition to the power plant, which is the largest in the country with a capacity of 1500 MW," Al Mukhaini pointed out.

Al Mukhaini added that the number of employees in the estate has touched 1,639, and the factories have achieved an Omanisation rate up to 68.5 per cent.

"In fact, the provision of job opportunities for the national cadres is among the priorities and objectives of the Public Establishment for Industrial Estates (PEIE) in its industrial estates in the various governorates of the Sultanate. The companies which achieve a high rate of Omanisation, gets more incentives. Besides, the Omani workforce has proved its efficiency and dedication and has attained high rates of job stability and performance in the various industrial estates," he said.

On the quality of Omani products, Al Mukhaini said: "The locally manufactured products have gained a significant positive reputation among consumers and are receiving a growing demand in the global markets. The products are highly conforming to the international standards, which is the reason why major international companies are approaching the products.”

“The next phase requires a focus on knowledge-based industries and training the national cadres to meet the requirements of the market and take advantage of the unique geographical location of the Sultanate."

"Sur Industrial Estate is making constant efforts to provide an excellent investment climate. Around 600,000 sq m were developed for medium and light industries, and a number of projects were localised," he added. – TradeArabia News Service