Oman: Investments at Sohar Port and Freezone reach $27bln

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Muscat – Total investment in the Sohar Port and Freezone has surpassed $27bn mark over the past 20 years. Sohar Port and Freezone, a leading industrial complex and gateway to the Gulf, currently contributes 2.1% annually to Oman’s gross domestic product (GDP), according to the CEO of Sohar Port.

In a statement to Oman News Agency, Emile Hoogsteden noted that Sohar Port and Freezone contribute RO18.4bn to Oman’s total volume of trade, which is equivalent to 45% of the country’s total volume of trade exchange.

Sohar Port achieved robust performance during the third quarter of 2022. Liquid bulk volume handled at the port, which includes liquid goods transported in large quantities, grew by 13% to 18mn metric tonnes compared to 16mn metric tonnes during the third quarter of 2022.

The number of ships calling at the port increased by two per cent, with 2,427 calls compared to the 2,384 calls in the third quarter of 2022. This indicates increased activity level at the port and its ability to handle goods effectively.

Hoogsteden pointed out that Sohar Port also witnessed a 4% increase in the number of vehicle carriers, which is a means of transporting goods that uses cargo ships designed to transport wheeled goods, including cars, trucks, construction equipment, and others.

Recently, Sohar Port and Freezone, in collaboration with its industrial tenants, officially announced the formation of the SOHAR Net-Zero Alliance, a groundbreaking initiative dedicated to accelerating Oman’s transition towards carbon neutrality by 2050. The alliance serves as a platform for stakeholders to share insights, strategies, and requirements, propelling the region’s path toward sustainability.

Omar al Mahrizi, CEO of Sohar Freezone, pointed out that Sohar Port and Freezone witnessed the signing of 11 agreements since the beginning of 2023, securing new investments worth $632mn.

He said that the Sohar Port and Freezone provide a range of services, including warehousing, logistics, and manufacturing facilities, making it an integrated center for companies looking to start their operations in Oman.