Khazaen Economic City has announced the signing of new investment agreements with two of Oman’s leading companies.
Under the first agreement, Salalah Mills Company will lease a 20,000 m2 of industrial land to set up an integrated food production facility. The second agreement with Al Hilal Industrial Group LLC will see the company establish an industrial project to manufacture plastic and fiberglass materials, apart from a logistical project to set up the Group’s warehouses on a total area of 30,000m2.
The pacts were signed by Eng Salim Suleiman al Thuhli, CEO, Khazaen and CEOs of both companies.
Commenting on the signings, Eng Al Thuhli said, "We are pleased to welcome both Salalah Mills Company and Al Hilal Industrial Group to Khazaen Economic City, which is witnessing rapid growth and seeing increasing demand among various companies and investors. These projects are of great importance to the local market and to Khazaen. We are delighted with our success in attracting such projects. This reflects the investors’ confidence in Khazaen and the services it provides. Khazaen will continue its efforts to attract more investors and quality projects.”
For his part, Ahmed Alawi Al Dhahab, CEO of Salalah Mills Company, expressed his happiness on signing the agreement for setting up the food processing unit which is estimated to cost about RO 12 million.
He said that the first phase of the project will include an industrial laboratory and production lines for frozen and semi-cooked pastries. In the second phase, new production lines for frozen cakes, snacks, noodles and biscuits will be added. Production at the facility is expected to start by mid-2023.
Shaikh Khalil bin Ibrahim al Hinai, Chairman of the Board of Directors, Al Hilal Industrial Group, which was established in the mid-seventies, said, “Al Hilal Group has witnessed tremendous progress and great expansion during the last period, thanks to strategic planning and professional business management. The growth of the Group has been in line with that of the Sultanate.”
"We are pleased to sign this agreement, through which we aim to establish an industrial project specializing in production of plastic and fiberglass materials, in addition to another logistical project to set up warehouses for the Group on a total area of 30,000m2. These projects are part of the Group's local expansion plans,” he added.
The signing of these agreements reflects the continuous successes achieved by Khazaen Economic City in attracting Omani and foreign investors, especially after completion of the first phase of the infrastructure works. Many have moved in since the inauguration of the Khazaen Dry Port.