Muscat – SOHAR Port and Freezone celebrated its 2024 performance during the annual Business Reception under the theme “Connecting Commerce, Creating Opportunities.” The event highlighted SOHAR’s role as a cornerstone of Oman’s economic development, directly contributing to the country’s diversification goals under Oman Vision 2040.

Total investments at SOHAR reached an impressive USD 30 billion, with 2024 alone contributing over USD 4 billion in new projects. Among the major agreements signed last year were a USD 1.35 billion polysilicon production facility—the largest of its kind in the Middle East—a USD 1.6 billion LNG bunkering project utilizing solar energy, and a USD 600 million agreement to establish Oman’s first iron ore concentration plant. These projects highlight SOHAR’s leadership in advancing innovation, renewable energy, and industrial development.

Operational performance also demonstrated resilience and growth, with over 3,000 vessel calls recorded in 2024. General cargo throughput increased by 77% compared to the previous year, container volumes grew by 15%, and ship-to-ship operations rose by 19%. SOHAR Freezone saw significant achievements as well, with land occupancy reaching 85%, reflecting robust demand from both existing and prospective tenants.

Commenting on SOHAR’s accomplishments, CEO Emile Hoogsteden said: "SOHAR Port and Freezone has become a catalyst for Oman’s economic transformation and a model of innovation and sustainability. As we celebrate two decades of growth, we take pride in how SOHAR has built an integrated industrial and logistics ecosystem that attracts forward-thinking investments and drives global competitiveness. Moving forward, we will continue to align our efforts with Oman Vision 2040, fostering sustainable development and exploring new opportunities to propel Oman’s position on the global stage."

The Freezone’s strategic growth was further emphasized by Acting CEO Mohammed Al Shizawi, who stated: "SOHAR Freezone has established itself as a critical enabler for businesses seeking to thrive in a dynamic and interconnected environment. In 2024, we signed 9 agreements covering 130 hectares of land and attracting USD 1.8 billion in investments, reflecting strong demand and trust in our ecosystem. Our investments in infrastructure, technology, and incentives ensure that all tenants, whether new or established, can unlock their full potential

while contributing to Oman’s economic development. The strong demand for land and facilities is a testament to the confidence businesses place in SOHAR Freezone as a hub for innovation and growth."

In 2024, SOHAR reinforced its sustainability commitment by joining the Alliance for Industry Decarbonization and continuing the dialogue of SOHAR Net Zero Alliance, bringing together 12 companies to collaborate on achieving net-zero targets. Other initiatives included expanding the use of biofuels and hydrogen to reduce maritime emissions and partnering with Metcore to enhance fuel accuracy and sustainability.

Recognition for SOHAR’s achievements came in the form of prestigious awards, including the Environmental Protection Award at The Maritime Standard Awards, two RoSPA health and safety excellence awards, and accolades at the Oman Logistics Day. On the employment front, SOHAR supported nearly 36,000 direct and indirect jobs, showcasing its role as a key driver of economic growth in the region. Beyond job creation, the Port and Freezone fostered skill development through training programs designed to prepare Omani talent for future industry demands. Additionally, corporate social responsibility initiatives positively impacted over 56,000 lives, with programs like Maseer empowering Omani youth with technical skills and collaborations with local charities providing education and healthcare support to underserved communities.

Looking ahead, SOHAR Port and Freezone remains committed to reducing its carbon footprint, driving innovation in industrial development, and fostering opportunities aligned with Oman Vision 2040. Through sustainable growth, cutting-edge facilities, and a steadfast focus on collaboration, SOHAR will continue connecting businesses to the world and creating opportunities that benefit the nation and its people.

About SOHAR Port and Freezone

As one of the fastest-growing ports in the world, SOHAR Port and Freezone continues to leverage on its strategic location and enhance its services, positioning itself as a key logistics hub within the region and across the world boasting container, liquids, and bulk terminals. A powerful combination of the expertise of the Port of Rotterdam and ASYAD Group, it is earmarked as one of the Sultanate’s mega-projects, home to logistics, petrochemicals, and metal clusters, as well as the region’s first dedicated agri terminal. Today, after 20 years of operation, it serves as the main gateway for import and export in Oman, directly contributing 2.1% of the country’s GDP and almost 36,000 direct and indirect employment opportunities. With a focus on sustainable development and cutting-edge technology, it is leading the development and modernization of the Sultanate’s logistics infrastructure and supporting the economic diversification objectives of Oman’s 2040 Vision.

For more information about SOHAR Port and Freezone, please visit soharportandfreezone.om.