18 investment opportunities announced worth RO 1.5bn
Published: 12:04 PM,Apr 24,2022 | EDITED : 04:04 PM,Apr 24,2022
Muscat: The Ministry of Commerce, Industry and Investment Promotion, in cooperation with the government and private sectors, launched at Oman Convention and Exhibition Center on Sunday 18 investment opportunities with a total investment volume of more than RO 1.5 billion.
These opportunities will be concentrated on the tourism and circular economy sectors for waste management projects.
These opportunities, which will be announced through the “Invest in Oman” platform, focus on the areas of recycling waste electrical and electronic equipment, implementing a biogas plant to produce electricity and heat, producing fertilizer, a waste-to-energy plant, used cooking oil, recycling glass waste, green waste recycling, waste paper, cardboard, copper and aluminum, lead-acid battery treatment facility, fish waste recycling, and investment opportunities in a number of tourism projects in various governorates of the Sultanate of Oman.
The inauguration ceremony was held under the auspices of Salim Mohammed al Mahrouqi, Minister of Heritage and Tourism. He affirmed that these proposed projects represent an integrative and promising model. They are the first group of many investment opportunities, particularly in the tourism sector, which are estimated at more than RO 15 billion during the next 20 years.
He added that these projects represent the starting point for building a solid base for the tourism sector and the addition of a diversified dimension to the national economy. It is expected that these projects will be completed within the next four years.
For her part, Asila Salim al Samsami, Undersecretary for Investment Promotion, said that these opportunities are represented in 6 opportunities in the tourism sector with an investment volume of approximately RO 974 million, as well as 12 opportunities in the circular economy sector for waste management with an investment volume of RO 528 million.
She pointed out that the move comes as part of the ministry's initiatives to find investment opportunities for various sectors and in partnership with the Muscat National Development and Investment Company 'ASAAS', Oman Tourism Development Company 'Omran', Oman Environmental Services Holding Company (be'ah) and Jabal Bausher Heights Real Estate Development Company. She explained that for some investment opportunities, feasibility studies and market assessment studies are required.
Eng Hashel Obaid al Mahrouqi, CEO of Omran Group, said that the Group is working to provide investment opportunities for local and international partners and to attract leading brands in the field of hospitality, culture and entertainment to the Sultanate of Oman.
He pointed out that the three projects proposed for investment by Omran are represented in the project to implement the second phase of the integrated tourism project 'Yeti', the business center project in Madinat Al Irfan in Muscat to develop commercial facilities within the masterplan for the eastern side of the city, and Musandam Adventures project, which includes the establishment of an adventure center and a marina and hotel. The first phase of the same project will witness the inauguration of the zip line, which will be opened in 2022, forming a starting point to enhance tourism experiences and products in the Governorate of Musandam.
Sulaiman Ahmed al Kindi, CEO of ASAAS, said that the company is about to complete the multi-use Al Raya Complex project in the Ministries District in the Governorate of Muscat. He added that the project is one of the major public-private partnership projects. Integrated operations are expected to start in March 2023, so that the market will be one of the historical markets and tourist destinations in the Sultanate of Oman.
Al Kindi added that the company is maintaining cooperation with Omran Group to develop the Bassa Tourist Beach in the Wilayat of Khasab, which includes a walkway, a park and shops. He also said that the company is also developing Al Sharq project in the Wilayat of Barka in the Governorate of South Al Batinah. This project includes recreational park, a zoo and aqua park with international specifications, as well as a commercial area, an educational and entertainment center, a residential area, and two hotels (3 and 4 star) with more than 500 rooms.
These opportunities will be concentrated on the tourism and circular economy sectors for waste management projects.
These opportunities, which will be announced through the “Invest in Oman” platform, focus on the areas of recycling waste electrical and electronic equipment, implementing a biogas plant to produce electricity and heat, producing fertilizer, a waste-to-energy plant, used cooking oil, recycling glass waste, green waste recycling, waste paper, cardboard, copper and aluminum, lead-acid battery treatment facility, fish waste recycling, and investment opportunities in a number of tourism projects in various governorates of the Sultanate of Oman.
The inauguration ceremony was held under the auspices of Salim Mohammed al Mahrouqi, Minister of Heritage and Tourism. He affirmed that these proposed projects represent an integrative and promising model. They are the first group of many investment opportunities, particularly in the tourism sector, which are estimated at more than RO 15 billion during the next 20 years.
He added that these projects represent the starting point for building a solid base for the tourism sector and the addition of a diversified dimension to the national economy. It is expected that these projects will be completed within the next four years.
For her part, Asila Salim al Samsami, Undersecretary for Investment Promotion, said that these opportunities are represented in 6 opportunities in the tourism sector with an investment volume of approximately RO 974 million, as well as 12 opportunities in the circular economy sector for waste management with an investment volume of RO 528 million.
She pointed out that the move comes as part of the ministry's initiatives to find investment opportunities for various sectors and in partnership with the Muscat National Development and Investment Company 'ASAAS', Oman Tourism Development Company 'Omran', Oman Environmental Services Holding Company (be'ah) and Jabal Bausher Heights Real Estate Development Company. She explained that for some investment opportunities, feasibility studies and market assessment studies are required.
Eng Hashel Obaid al Mahrouqi, CEO of Omran Group, said that the Group is working to provide investment opportunities for local and international partners and to attract leading brands in the field of hospitality, culture and entertainment to the Sultanate of Oman.
He pointed out that the three projects proposed for investment by Omran are represented in the project to implement the second phase of the integrated tourism project 'Yeti', the business center project in Madinat Al Irfan in Muscat to develop commercial facilities within the masterplan for the eastern side of the city, and Musandam Adventures project, which includes the establishment of an adventure center and a marina and hotel. The first phase of the same project will witness the inauguration of the zip line, which will be opened in 2022, forming a starting point to enhance tourism experiences and products in the Governorate of Musandam.
Sulaiman Ahmed al Kindi, CEO of ASAAS, said that the company is about to complete the multi-use Al Raya Complex project in the Ministries District in the Governorate of Muscat. He added that the project is one of the major public-private partnership projects. Integrated operations are expected to start in March 2023, so that the market will be one of the historical markets and tourist destinations in the Sultanate of Oman.
Al Kindi added that the company is maintaining cooperation with Omran Group to develop the Bassa Tourist Beach in the Wilayat of Khasab, which includes a walkway, a park and shops. He also said that the company is also developing Al Sharq project in the Wilayat of Barka in the Governorate of South Al Batinah. This project includes recreational park, a zoo and aqua park with international specifications, as well as a commercial area, an educational and entertainment center, a residential area, and two hotels (3 and 4 star) with more than 500 rooms.