BUSINESS REPORTER
MUSCAT, OCT 11
Oranss Technology Company and Mobel Polymers have signed an agreement to establish polymer products manufacturing factory in Samail Industrial City, with an investment value of USD 7 million for its initial phase.
An agreement was signed by the Public Establishment for Industrial Estates (Madayn) for setting up a polymer products manufacturing factory in Samayil Industrial City with an investment of $7.5 million in the first phase.
Signing on behalf of the project investors were Sharifa al Naamani, Chairperson of Oranss Technology Board of Directors, and Dr Hany Makary, Chairman of Mobel Polymers Board of Directors.
The signing took place in the presence of Eng Dawood bin Salim al Hadabi, CEO of Madayn, on the sidelines of the Home and Building Expo at Oman Convention and Exhibition Centre.
Commenting on this agreement, Sharifa al Naamani pointed out that the factory’s output will serve as a pivotal source of raw materials for various manufacturing sectors within Oman, which were previously reliant on imports, thereby catalysing the growth of Omani industries.
“The partnership forged between Oranss Technology and Mobel Polymers represents the strong bond between the Sultanate and Egypt, encouraging innovation, economic growth, and international cooperation,” she said.
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