Thursday, March 28, 2024 | Ramadan 17, 1445 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Ominvest’s National Finance assists Zubair SEC member Recycling Services

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MUSCAT: Ominvest (Oman International Development and Investment Company SAOG) through its financial leasing associate, National Finance, has extended support to Zubair Small Enterprises Centre (Zubair SEC)’s member Majed Saud Ahmed al Battashi and his partner Mahmoud al Amri to buy a specialised truck for their company “Recycling Services LLC”. This financing will enable Recycling Services to expand the scope of its business and cover wider work volume for recyclable waste collection services. The truck is fully equipped to safely collect and transport waste lead acid batteries (LAB) to recycling facilities. Zubair SEC had supported Majed Saud al Battashi and Mahmoud Abdullah al Amri through advisory services to prepare a feasibility study to buy the truck for the expansion and facilitated the securing of this financing with National Finance.


The new truck will help increase the waste collection capacity of “Recycling Services” company from the current 100 tonnes/month to 400 tonnes/month, and increase operational efficiency by reducing the number of needed manpower per collected tonne from the current 6 employees/8 tonnes to 1 employee/8 tonnes, as well as reducing the time needed from 16 hours/8 tonnes to 1 hour/8 tonnes of collected recyclable waste.


Al Battashi and Al Amri, whose company specialises in waste management and promotes environmental responsibility through its operations, were among the 10 winners of the Zubair SEC’s flagship Direct Support Programme (DSP) for the year 2017. Zubair SEC had signed an agreement with Ominvest in 2016 to support small and medium enterprises (SMEs) and aspiring entrepreneurs to develop their business ideas in Oman under the DSP programme.


Abdulaziz Mohammed al Balushi, Group CEO, Ominvest said, “As the leading and largest investment holding company in Oman, we are intensely invested in the future prosperity of Oman, with an emphasis on supporting aspiring entrepreneurs. We recognise start-ups and SMEs are crucial to achieving sustainable and inclusive growth. Ominvest has been a catalyst for empowering local businesses and creating opportunities for Omani nationals. We are delighted to support Al Battashi and his company. We are certain that he will create greater value and deliver a positive impact in the society through the environmental services his company offers.”


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