Sohar Industrial City invested RO 75 million in Oman to localize 27 new projects.

By the conclusion of Q3 2024, Sohar Industrial City has seen a notable increase in projects and investments.

Muscat: By September 2024, Sohar Industrial City localized 27 new projects with an investment volume of RO 75 million, covering an area of 400,000 square meters. The cumulative investment volume in the city now stands at RO 2.3 billion, supporting 395 projects and employing over 14,000 workers, according to Eng. Abdullah bin Ahmed Al Mayasi, Director General of Sohar Industrial City.

Eng. Al Mayasi highlighted the completion of infrastructure development for the seventh phase in Q2 2024, with an investment of over RO 20 million. Plans are underway to enhance infrastructure in phases one through six, with consulting work valued at RO 400,000. The upgrades are expected to conclude by Q2 2025.

Additionally, Sohar Industrial City signed agreements for 11 projects within the Ladin Plastic Industries Complex, attracting investments exceeding RO 30 million. The complex has already utilized 15% of its allocated area

Sohar is advancing its plans for an Integrated Economic Cluster for the Aluminum Industry, aiming to position Oman as a global aluminum hub. The initiative involves studying the sector’s ecosystem and marketing investment opportunities, emphasizing aluminum’s critical role in diversifying the national economy and creating jobs.

Similarly, the Ladin Plastic Industries Complex, a collaboration between “Madayn,” OQ Group, and other entities, is set to develop a 1 million square meter zone for high-value plastic products. The project aligns with Oman’s Vision 2040 goals to establish a competitive and diversified economy.

To attract investments, Sohar Industrial City offers a range of incentives, including land allocation with one to two years of rental exemptions and 50% reduced rent for the subsequent three years. OQ Group also supports investors by supplying raw materials at discounted rates under specific criteria.

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