MUSCAT: Khazaen Economic City (KEC) LLC, the master developer of the new 52 million sqm integrated economic city in Barka, will soon be announcing the Detailed Master Plan of the new city, said Khalid bin Awadh al Balushi, CEO of KEC. The detailed designs of the city are at a very advanced stage, and will be announced in the near future. The first construction contracts will be awarded and works will commence in the second half of this year. KEC’s announcement comes few days after signing of the first investment agreements with an international investor to set up two production plants in Khazaen.
The first project is an investment by Hema Leading Line, which will focus on products based on blending petrochemical raw materials for roads and buildings. The second one will manufacture water disinfecting system products to produce organic cleaner and antibacterial liquid, to be set up in Khazaen by Muscat Manufacturing and Industries LLC. Al Balushi said that the economic city is gearing up to sign a number of similar investment agreements in the coming weeks.
“Over the last months, we have focused on building Khazaen’s unique selling proposition as the region’s leading new investment destination. This public-private partnership, pioneered by Asyad, is already attracting foreign companies, which will generate jobs, enable economic multipliers supporting logistics SMEs and encourage local raw material refining into value added products. We are reaping the fruits of our hard work,” Al Balushi added. — ONA
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