Industry, Logistics & Shipping

Suhar Industrial City signs investment pacts worth over $44m

Suhar Industrial City, a subsidiary of Madayn (a public establishment for industrial estates) signed on February 26 four investment pacts totalling over RO 17 million ($44 million) for projects spanning more than 55,000 sqm.

The agreements were inked during the Suhar Investment Forum – an event dedicated to spotlighting investment prospects in North Al Batinah Governorate.

The first investment contract was signed with the United Feeds Company for a project spanning an area of 22,500 sqm, with an investment of RO 12 million.

The second contract was signed with Sedra International Industries Company to establish a project focused on manufacturing plastic raw materials across 11,757 sqm, with an investment of RO 3.7 million.

The third pact, with Omran White Cement Company, involves establishing a cement manufacturing project covering 11,250 sqm, backed by an investment of RO 1 million.

The fourth contract was signed with Al Madina Food Industries to establish a project of tea blending and packaging over 4,910 sqm, with an investment of RO 850,000.

The signing of these contracts further advances the objectives of Madayn, aimed at attracting investments, localising national capital, generating employment opportunities for local talents, promoting the establishment of export-oriented industries, and stimulating the Sultanate’s economic sectors in alignment with Oman Vision 2040, a statement said. – TradeArabia News Service