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Oman Investment Authority to launch strategic projects worth RO 750m as part of 52nd National Day


MUSCAT: Oman Investment Authority (OIA) announced the start of the opening of 10 national projects distributed geographically in a number of governorates, and varying in sectors, through its subsidiaries, and in partnership with local and foreign companies.

The launch of these projects, valued in excess of RO 750 million, comes against the backdrop of celebrations marking Oman’s 52nd Glorious National Day.

Hisham bin Ahmed al Sheidi, Director General of Economic Diversification Investments at the Oman Investment Authority, said that these projects aim to contribute to efforts aimed at economic diversification, developing governorates, attracting investments, empowering the private sector, and creating job opportunities for citizens that exceed 860 direct and indirect jobs.

The first project set for launch is Sanvira Carbon Sohar Free Zone. It is a partnership between the Oman National Investments Development Company (Tanmia), Sanvira Industries Limited and United Business Company. The product will be used in aluminium smelters and other mining industries inside and outside Oman.

Set up with an investment of RO 60 million, Sanvira Carbon will contribute to diversifying Omani industries, enhancing their presence in the local market and replacing them with imported industries, and exporting approximately 70 per cent of calcined petroleum coal to contribute to the foreign exchange reserves of Oman.

Oman Flour Mills Company will open two projects: (i) Gulf International Poultry Farm located in the Al Subaikhi area in the Wilayat of Ibri in the Al Dhahirah Governorate. The project is a partnership between the Omani Food Investment Holding Company (Nitaj), and the Japan-Gulf Food Fund, among others.

Covering an area of 18 million square metres, the RO 26 million farm is one of the largest egg farms in the GCC with a capacity to produce 360 million eggs annually. It employs around 160 people.

The second project is a grain silo at Suhar Industrial Port, which was implemented at a cost of RO 21 million to support Oman’s food security strategy. It has a storage capacity of 160,000 tonnes and provides 54 permanent jobs when fully operational

OQ Group will open two projects:

The RO 178 million Salalah Ammonia with a capacity to produce ammonia from which fertilisers, cleaning products, refrigerants and other chemicals can be manufactured The second is the launch of Bisat A, B and C in Block 60, which will boost oil production from 5,000 barrels per day to 55,000 barrels per day.

Oman Water and Wastewater Services will open two water supply projects — first, a water pipeline from Suhar in North Al Batinah Governorate to the Wilayat of Ibri in the Dhahirah Governorate; second, a water supply system to the Wilayat of Al Jabal Al Akhdhar in Al Dakhiliyah Governorate.

Oman Oil Marketing Company is launching a bunkering depot at the Port of Duqm.

The Oman Power and Water Procurement Company, a subsidiary of Nama Group, will mark the start of a solar farm that will supply renewable electricity to the Al Sharqiya Water Desalination Plant.

Finally, Omran Group will mark the launch of Jumeirah Hotel in Qantab, which has been established with an investment of RO 60 million. — ONA

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