Suhar Industrial City, which pertains to the Public Establishment for Industrial Estates “Madayn”, has signed four investment pacts totaling over $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 square meters, with an investment of $31 million.
The second contract was signed with Sedra International Industries Company to establish a project focused on manufacturing plastic raw materials across 11,757 square meters, with an investment of $10 million.
The third pact, with Omran White Cement Company, involves establishing a cement manufacturing project covering 11,250 square meters, backed by an investment of $2.5 million.
Lastly, the fourth contract was signed with Al Madina Food Industries to establish a project of tea blending and packaging over 4,910 square meters, with an investment of $2,20,813.
The signing of these contracts further advances the objectives of Madayn, aimed at attracting investments, localizing 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.
In December 2023, OQ Refineries and Petrochemical Industries, a subsidiary of OQ Group, signed nine investment agreements to the tune of $88 million to establish industrial projects in the Ladayn Polymer Park in Sohar Industrial City.
