Salalah Free Zone (SFZ) signed a pair of land use (usufruct) agreements covering the development of a petrochemicals project with an investment of around $88 million, as well as a workshop for the maintenance and repair of shipping containers valued at around $1 million.
The petrochemical plant will be built on a 78,00 sq metre site, while the workshop will come up on a 3,000 sq metre plot. The latter will repurpose shipping containers for use as homes, restaurants, workshops and other facilities based on international standards.
The two agreements will contribute to the national economy by creating direct job opportunities. The factory’s petrochemical products will be handled through Salalah Port which will enhance the performance of the maritime transport sector.
SFZ offers economic incentives for investors, particularly tax exemptions and complete ownership of projects. The SFZ also boasts a strategic position next to Salalah Port. (With inputs from ONA)
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