MUSCAT: Besto Hengda Oman, a subsidiary of a Chinese silicon industry company, has signed an agreement with Salalah Free Zone, a subsidiary of Asyad Group, for the establishment of a ferrous alloys and high-quality recycled wrapping paper project. Total investment in the project, which will come up on a 300,000 square metre site, is about RO 88.5 million (US $230 million).
In its first phase, plant capacity is projected to reach about 90,000 tons of ferrosilicon alloys annually. The output will be doubled in the second phase to 180,000 tons per annum.
The production capacity of recycled wrapping paper in the first phase is about 300,000 tons annually.
Represented by Asyad of Oman Investment Authority (OIA), Salalah Free Zone provides competitive incentives that make it easier for investors and industrialists to establish projects and start operating, producing and exporting rapidly and efficiently. — ONA
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