Business Reporter -
Muscat, JAN 8 -
The Public Establishment for Industrial Estates (Madayn) yesterday signed an agreement with Al Hashemi and Al Rawas Trading & Contracting Company to implement the infrastructure for Raysut Industrial City (Raysut 2) at a total cost of RO 4 million covering an area of 1m square metres. The agreement was signed by Eng Ahmed bin Hassan al Dheeb, Chairman of Madayn’s board of directors, and Salah Salem bin Saif, Chief Executive Officer of Al Hashemi and Al Rawas Trading & Contracting Company.
Commenting on the agreement, Al Dheeb said the project will support the Industrial City’s growing demand for new land. “This agreement shall provide new infrastructure services and develop the existing ones. All the industrial cities that fall under the umbrella of Madayn are receiving great demands due to their strategic locations across the Sultanate, which eventually stimulate investment and business development,” Al Dheeb noted.
Eng Musallam bin Mohammed al Shehri, Assistant Chief Executive Officer of Madayn for Operations, stated that Madayn is currently working to implement a number of mega projects to develop infrastructure in all of its industrial cities across the Sultanate.
“Raysut Industrial City’s phase 2 infrastructure development project comes as part of these projects which have economic and social dimensions that directly contribute to a comprehensive and sustainable development,” Al Shehri said, adding: “The investment operations in these expansions have already begun, as the lease ratio has touched nearly 90 per cent of the total areas that have been identified for the project. This is a clear indication of the high demand by local and foreign investors to expand their businesses especially after the issuance of Madayn’s new investment regulations, which have simplified the procedures and offer a package of incentives to transform the industrial cities in the Sultanate into an attractive investment environment.” TURN TO PAGE 14
Oman Observer is now on the WhatsApp channel. Click here
