Oman’s Public Authority for Special Economic Zones and Free Zones has signed 28 investment agreements worth more than RO304m ($790m) for new projects and expansions across the country’s special economic zones, free zones and industrial cities.

The agreements cover more than 2 million square metres (sq m) of land and span industrial manufacturing, food production, logistics, recycling and commercial activities.

About $383.6m of the investment has been allocated to industrial cities operated by the Public Establishment for Industrial Estates (Madayn). Sohar Free Zone accounted for $152m, followed by the Special Economic Zone at Duqm (Sezad) with $143.1m, Salalah Free Zone with $85.6m and Khazaen Economic City with more than $27m.

The projects are expected to support Oman’s efforts to diversify its economy, expand industrial production and attract private investment in line with Oman Vision 2040.

Investment deals

In Sohar Industrial City, Atlas Steel will invest more than $291.1m in a plant producing iron and steel products on a site of about 440,000 sq m.

Fujian Mancheng Industries & Investment will invest $52m in a ceramics facility covering more than 241,000 sq m. Other investments in Madayn’s industrial cities include an $18.2m phosphate and nitrogen fertiliser plant planned by Gulf Company for Organic and Biological Fertilisers in Raysut, as well as projects involving structural metal products, paper and corrugated cardboard, and oil and gas equipment and services in Raysut, Ibri and Nizwa.

In Sohar Free Zone, Sohar Automotive & Advanced Industries Company will invest $98.8m in an automobile assembly complex covering 317,000 sq m. The complex aims to attract vehicle manufacturers, automotive supply-chain companies and advanced-manufacturing businesses.

Voltamp High Voltage Transformers has announced a $39m investment in a plant that will produce power and electrical-distribution transformers for regional and international markets.

Lalan Middle East will invest a further $3.9m to expand its medical-device manufacturing facility.

In Sezad, Al-Jazir Feed Plant will invest $104m in a shrimp-feed facility to support an integrated shrimp-farming project.

In Salalah Free Zone, Al-Nawras Industries will invest $50m in a steel-structures manufacturing facility, while Integrated Gypsum Company will invest $20m in gypsum-products production. Marai Dhofar will invest $15.6m in the production of Italian cheeses and other dairy products.

Projects in Khazaen Economic City include a plant by Aleemit International Services to manufacture electric-vehicle chargers and components, with an investment of more than $8.8m, and a $6.5m facility by Joger Modular Building Technologies to produce precast-concrete building components.

Additional investments in Khazaen include construction materials, ready-mix concrete, industrial units, logistics facilities and warehouses.