Sunday 24 / November / 2024
Muscat: The Oman Investment Authority (OIA) has announced the opening of 10 national projects with an investment value exceeding OMR750 million.
The projects are distributed across a number of governorates, and several sectors, through its subsidiaries, and in partnership with local and foreign companies, coinciding with the celebrations of the Sultanate of Oman’s 52nd National Day.
“These projects aim to contribute to economic diversification, developing governorates, attracting investments, empowering the private sector, and creating 860 direct and indirect jobs for citizens,” Hisham bin Ahmed Al Sheidi, Director General of Economic Diversification Investments at the Oman Investment Authority, said.
He said to the Oman News Agency that the 10 projects embody the agency’s strategy and objectives that are in line with Oman Vision 2040, where the agency plays its role in promoting the targeted economic sectors by implementing large projects in partnership with the private sector in various governorates. These projects are in a competitive business environment and serves Oman’s focus towards localisation of national expertise and competencies.
He pointed out that these projects come within the (National Development Portfolio) of the Oman Investment Authority, which manages a total of 160 assets and local companies, and aims to contribute to the growth and development of the Omani economy in addition to supporting the state’s general budget.
Hilal Al Shidi said the projects are based on eight priorities which are financial sustainability, growth in selected sectors, contribution to the gross domestic product, attracting private investors, exit, contributing to in-country value addition, synergy and integration between companies, and implementing governance and transparency structures.
The 10 projects among others include the OMR60 million Sanvira Carbon Project in the Sohar Free Zone and is a partnership between the Oman National Investments Development Company (Tanmia), Sanvira Industries Limited and United Business Company. The end product will be used in aluminium smelters and other mining industries both inside and outside Oman.
The project will contribute to diversifying Omani industries, enhancing their presence in the local market, and exporting approximately 70 per cent of calcined petroleum coal to contribute to the foreign exchange reserves of Oman, in addition to generating 150 job opportunities for citizens.
Oman Flour Mills Company will have two projects; the first is the Gulf International Poultry Farm located in the Al-Subaikhi area in the Wilayat of Ibri in the Al-Dhahirah Governorate, which is a partnership between the Omani Food Investment Holding Company (Netaj) of the Authority, the Japanese Khaleeji Food Fund, the Japanese Wise Foods company and the IFFCO company.
The farm, with value topping OMR26 million, is located on an area of 18 million square metres, and is one of the largest egg farms in the countries of the Gulf Cooperation Council (GCC). The project will have a capacity to produce 360 million eggs annually, and will be using modern and advanced equipment, and providing jobs to 160 employees.
The second project is the Grain Storage Silos in Sohar Industrial Port, which at a value of OMR21 million, aims to support the food security plans of Oman. It will have a storage capacity of 160,000 tonnes and seeks to provide 54 permanent jobs when fully operational.
OQ Group will also open two projects - the first Salalah Ammonia at a cost of OMR178 million, and aims to produce 1,000 tonnes of ammonia from which fertilizers, cleaning products, refrigerants and other chemicals will be exported through the Port of Salalah.
The project will provide 50 direct jobs. The second project (Magta A, B & C) in the concession area of Block 60, at a cost OMR157 million will be one of the largest projects that will contribute to increasing production by three times. Through this project 46 jobs for graduates is expected to be created.
The Omani Water and Sanitation Company will open two water supply projects from Sohar in the North Al Batinah Governorate to the Wilayat of Ibri in the Dhahirah Governorate, and water supply to the Wilayat of Jabal Al Akhdar in Al Dakhiliyah Governorate. The project is directly related to the home delivery business.
The project (shipping fuelling station and bunker fuel depot) implemented by the Oman Oil Marketing Company is the first bunkering depot in the Special Economic Zone at Duqm (Sezad). The project is expected to enhance the position of Port of Duqm among global ports. The project, coming up at a cost of OMR11 million, will attract ships to stop and supply services from the port, and will provide more than 45 direct and indirect jobs.
The Oman Electricity and Water Procurement Company, a subsidiary of Nama Group, is partnering with the Al-Aseelah Desalination Company in the Al Sharqiya Water Desalination Plant project in the Asilah area in the Wilayat of Jalan Bani Bu Ali in the Governorate of South Al Sharqiyah. The project, with an investment value exceeding OMR60 million, is the first of its type in Oman and a solar power plant for use in seawater desalination, with a production capacity of 80,000 cubic metres per day and creating 20 jobs.
The Jumeirah Hotel in Qantab in the Governorate of Muscat, which is one of the projects in which the Omran Group will offer 260 direct jobs, at a cost nearing OMR60 million riyals. The project will also have a health club (spa), a fitness and entertainment centre, a multi-purpose hall and a diving centre.
