Minerals Development Oman (MDO) has signed a cooperation agreement with the Small and Medium Enterprises Development Authority (Riyada) to support the SMEs and boost their business growth.
On the sidelines of the agreement, MDO has signed six contracts with the SMEs (Riyada card holders) in various fields, including the operation and maintenance of a limestone quarry in the Wilayat of Suhar, exploration drilling works for copper in the Wilayat of Yanqul, exploration drilling works for dolomite in wilayats of Al Amerat and Qurayat, as well as exploration drilling works for silica in the Wilayat of Qurayat. In addition to the geochemical survey works, the provision of core boxes for ground samples and electricity connection services.
The agreement was signed by Halima bint Rashid al Zariyah, Chairperson of Riyada, and Dr Badar bin Saud al Kharusi, Chairman of Minerals Development Oman, at the authority’s headquarters in the presence of number of representatives from both sides.
Under the agreement, both sides will collaborate to provide SMEs with business opportunities within the company, as well as provide the technical, financial, training and promotional support.
Halima al Zariyah said: “Our cooperation with MDO aims to expand the business opportunities for SMEs in the mining industry and related services, transfer knowledge and experience and increase their efficiency through practices in the workplace by establishing and operating high-quality production lines, providing services and fulfilling a variety of inputs and operations.”
From his side, Dr Badar al Kharusi stated: “We are delighted to sign this agreement with Riyada, which is a reflection of the company's continued commitment to society, as the company strives to support local start-ups and promote their business growth, as part of MDO’s ICV strategy.”
He added: "MDO adopts a clear mechanism to support SMEs in their various projects, in addition to obligating its contractors to partner with SMEs. MDO has awarded number of contracts this year to SMEs (Riyada card holders) with RO 6,8 million.”
Minerals Development Oman was established in 2017 with a clear strategic vision to invest in the mining sector in the Sultanate of Oman and to increase its contribution to the growth of the economic and social sectors by creating job opportunities and building local competencies, in addition to supporting small businesses.