Muscat: Oman Cables Industry SAOG, a leading cables manufacturer based at Al Rusayl Industrial City in Muscat, has announced an investment of RO 1.9 million into its subsidiary, Oman Aluminum Processing Industries SPC (OAPIL). This strategic decision, approved by the company’s Board of Directors, is projected to generate a 75 per cent internal rate of return (IRR) within three years, the publicly listed company noted in a filing to the Muscat Stock Exchange (MSX).
The investment will fund the establishment of a state-of-the-art production facility in Suhar, aimed at manufacturing advanced composite core conductors. These innovative conductors are designed to significantly enhance the capacity, reliability, and resilience of energy grids, aligning with the global transition toward more sustainable energy solutions.
Cinzia Farisè, Chairperson of the Board of Directors, highlighted that the project would not only expand OAPIL’s operational scope but also contribute to increased profitability and diversification for Oman Cables. The new facility will strengthen the company’s presence in international markets, particularly within the rapidly evolving energy infrastructure sector.
Established in 2008, OAPIL has played a key role in Oman’s aluminium and electrical transmission sectors.
It has since expanded its market reach to over 45 countries. This new investment will further enhance Oman’s industrial capabilities while contributing to the Sultanate’s ongoing efforts to support global energy transitions.
Oman Cables has indicated that further updates on the progress of this investment will be provided in due course as the company positions itself to capitalize on emerging opportunities in the global energy market.
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