Business

Salalah Free Zone attracts RO 3.01 billion in petrochemicals investments

As of the end of April this year, the impressive total of 97 projects highlights the dynamic growth and diversification within the SFZ.
 
As of the end of April this year, the impressive total of 97 projects highlights the dynamic growth and diversification within the SFZ.
MUSCAT: Salalah Free Zone (SFZ) continues to solidify its position as a major investment hub, boasting a significant portfolio of 97 projects with investments exceeding RO 4.74 billion. According to the latest Duqm Economist magazine, these investments span a wide array of economic sectors, underscoring the zone's robust appeal to both local and international investors.

As of the end of April this year, the impressive total of 97 projects highlights the dynamic growth and diversification within the SFZ. The petrochemicals sector stands out as a leading contributor to this investment surge, accounting for a substantial RO 3.01 billion across 14 projects. While petrochemicals dominate in terms of investment volume, the chemical industries sector also plays a vital role with RO 747 million in investments, complemented by significant contributions from data processing, which has attracted over RO 327 million.

Beyond these major players, the SFZ's investment landscape is remarkably varied. Metallurgical industries, with 8 projects, have drawn considerable investment, as have pharmaceutical industries with 5 projects. Electronics, featuring 3 projects, and sectors such as automotive, data processing, and recycling, each with 2 projects, further contribute to the diverse industrial base. Niche yet important sectors like green energy, education, telecommunications, automation, marine services, and consumer goods are also part of the SFZ's portfolio, each represented by a single, impactful project.

The detailed breakdown of projects and investments by sector illustrates the breadth of opportunities available within the free zone. Food Industries lead in the number of projects with 18, commanding RO 86.68 million in investment. General Trade follows closely with 17 projects, investing RO 20.13 million, and Logistics Services contributes 15 projects with RO 20.12 million.

Petrochemicals, despite having fewer projects (14), stands out with its colossal investment of RO 3.01 billion, showcasing its capital-intensive nature. Metallurgical Industries, with 8 projects, has attracted a substantial RO 307.48 million, while Chemical Industries, with 6 projects, sees investments of RO 747.24 million. Pharmaceutical Industries, though having 5 projects, represents a significant investment with RO 152.08 million, and Electronics, with 3 projects, records RO 5.78 million.

The smaller yet strategically important sectors include Automotive (2 projects, RO 15.54 million), Data Processing (2 projects, RO 327.25 million), and Recycling (2 projects, RO 1.27 million). Single-project sectors like Consumer Goods (RO 3.85 million), Education (RO 7.70 million), Green Energy (RO 28.88 million), Telecommunications (RO 3.85 million), and Marine Services (RO 7.70 million) further round out the diverse economic ecosystem within Salalah Free Zone.

These impressive figures collectively underscore the ongoing efforts to enhance investment opportunities within the SFZ. They strongly affirm its growing reputation as a preferred destination for both domestic and international investments, with each project poised to contribute significantly to the national economy's growth and diversification. The strategic location of Salalah, coupled with the attractive incentives offered by the Free Zone, continues to draw in a steady stream of capital, fostering a dynamic and prosperous business environment.