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Al Buraimi Industrial City, which falls under the umbrella of the Public Establishment for Industrial Estates (Madayn), has signed an investment agreement with Sohar Iron and Billets Company to establish a project for the manufacturing of steel, and extrusions of aluminium, steel and non-ferrous metal.
The project will be developed on an area of 36,000 sq m, with a total investment touching RO10 million ($26.01 million).
Said Al Balushi, Director General of Al Buraimi Industrial City, said the localisation of such major industrial projects in the city aims to contribute to the growth of the industrial sector in Al Buraimi Governorate, promote economic diversification, and generate new job opportunities.
He added that the signing of this agreement comes as part of a strategic plan to attract new investments, expand advanced industries in the Sultanate, and boost sectors that adopt modern technologies, which will open wider prospects for economic growth and support sustainable industrial transformation in alignment with Oman Vision 2040.
Meanwhile, the cumulative investment volume in Al Buriami Industrial City reached RO287.532 million by the end of the first half of this year. The total number of the signed investment contracts stood at 1,645, covering an invested area of 1,738,414 sq m, with the availability of 4,487,681 sq m of leasable land.
Meanwhile, Madayn continues to implement infrastructure development projects under the National Development Project for Industrial Cities, which includes the rehabilitation of internal roads, construction of an advanced treatment plant, and implementation of an integrated wastewater network, a statement said. - TradeArabia News Service
