Oman: Salalah Free Zone signs five investment pacts totalling $114mln

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MUSCAT: Salalah Free Zone recently signed five agreements totalling RO 44 million, marking the initiation of five new investments.

These agreements span from Oman to Hong Kong, Jordan to Kuwait, and beyond, showcasing the free zone’s growing global partnerships that are shaping a brighter economic landscape.

The first agreement was inked with Naseem Salalah Trade and Processing Industries LLC to establish a factory for the production of paper towels, with a substantial investment value of RO 38 million.

Following this, a deal was struck with Kuwaiti Engineering Industries Company to set up a factory for air conditioning units under the brand “Moraya,” with an investment of RO 4.56 million.

Moving on, a partnership was solidified with Tawfeeq Medical Supplies Company from Jordan to establish a factory for the production and packaging of sugar strips, with an investment value of RO 760,000.

Additionally, an agreement with Wadi Hawjar from Oman was made to establish a factory for mixing and producing raw materials from frankincense derivatives, as well as packing products like soap and frankincense oil, with an investment value of RO 247,000.

Finally, the fifth agreement symbolises a commitment to sustainable business practices and global partnerships, as a deal was signed with Green Stream Solution Company from Hong Kong to establish an import, re-bagging and export company for potash fertilisers, with an investment of RO 57,000.

These agreements mark a significant step towards fostering economic growth and collaboration with companies across the globe.