Sohar Freezone has signed six investment agreements worth more than RO63M ($163.7M), covering industrial manufacturing, automotive, medical devices, textile recycling and logistics projects across more than 440,000 square metres in Oman.
The largest project comes from Sohar Automotive & Advanced Industries Park, established by EW Partners, which plans to invest around RO38M in a 317,000-square-metre automotive and advanced industries park. Its first phase will include about 180,000 square metres of manufacturing plants, workshops and warehouses.
Voltamp International, a subsidiary of Voltamp Energy Company, will invest RO15M in a 75,000-square-metre facility producing power and distribution transformers for regional and international markets.
Other agreements include Lalan Middle East’s RO1.5M expansion of medical-device manufacturing facilities, laboratories and warehouses, and Five Star Group’s RO3.85M used-clothing sorting facility for exports to African markets.
Volt Power and Lighting will develop an RO800,000 warehouse for electrical and lighting products, while Dynamic Logistics Services will invest RO150,000 in a storage and re-export facility for tools and engineering equipment.
According to the announcement, the projects will broaden Sohar’s industrial base, strengthen supply chains and support the freezone’s role as a regional trade and distribution hub.
Source: Zawya
