08 December, 2019

Omani freezone plans mixed-use project - official

Project to be developed in partnership with private investors

Image used for illustrative purpose. Boats Moored At Harbor Against Clear Sky.

Image used for illustrative purpose. Boats Moored At Harbor Against Clear Sky.

Gettyimages

08 December 2019

Oman's Al Mazunah freezone has allocated land for a mixed-use project adjacent to an upcoming dry port, a top freezone official said.

Head of Investor Services Said Zabanout told Thomson Reuters Projects that plot number 430, measuring 249,669.65 square metres (sqm), has been allotted for developing a mixed-use project.

He said private investors would be invited to bid for the project in 2020, adding that the land parcel is adjacent to an upcoming dry port within the zone.

"The dry port is being developed on plot number 429. We are at present discussing with four to five major investors for developing the project, but an agreement is yet to be signed," he said without committing to a timeline for choosing the investor.

The dry port, situated just five kilometres from the Yemeni border, would be a strategic project that aims to make Oman an import-export hub, he said.

Al Mazunah freezone is located on 15.36 million sqm area in Dhofar governorate and has been positioned as gateway for transit trade to Yemen and East Africa.

(Reporting by Sowmya Sundar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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