Muscat: Khazaen Economic City has announced the signing of new investment agreements with two of Oman’s leading companies.
Under the first agreement, Salalah Mills Company will lease 20,000 m2 of industrial land to set up an integrated food production facility.
The second agreement with Al Hilal Industrial Group will see the company establish an industrial project to manufacture plastic and fibreglass materials, apart from a logistical project to set up the group’s warehouses on a total area of 30,000m2.
The pacts were signed by Eng. Salim Suleiman Al Thuhli, CEO, Khazaen and CEOs of both companies.
Commenting on the signings, Eng. Thuhli said, "We are pleased to welcome both Salalah Mills Company and Al Hilal Industrial Group to Khazaen Economic City, which is witnessing rapid growth and seeing increasing demand among various companies and investors. These projects are of great importance to the local market and Khazaen. We are delighted with our success in attracting such projects. This reflects the investors’ confidence in Khazaen and the services it provides. Khazaen will continue its efforts to attract more investors and quality projects.”
In his turn, Ahmed Alawi Al Dhahab, CEO of Salalah Mills Company, expressed his happiness on signing the agreement for setting up the food processing unit which is estimated to cost about OMR12 million.
He said that the first phase of the project will include an industrial laboratory and production lines for frozen and semi-cooked pastries. In the second phase, new production lines for frozen cakes, snacks, noodles and biscuits will be added. Production at the facility is expected to start by mid-2023.”
He added, “Khazaen Economic City high-quality infrastructure, the attractive incentives and facilities it provides along with its strategic location were taken into consideration at the time of selecting it as the ideal location for our projects.”
Sheikh Khalil Ibrahim Al Hinai, Chairman of the Board of Directors, Al Hilal Industrial Group, said "We are pleased to sign this agreement, through which we aim to establish an industrial project specialising in the production of plastic and fibreglass materials, in addition to another logistical project to set up warehouses for the group on a total area of 30,000m2. These projects are part of the group's local expansion plans.”
Among the numerous advantages Khazaen Economic City offers is its world-class infrastructure, ease of procedures, incentives and facilities that are attracting investors. The city is also known for its strategic location, which ensures easy connectivity and quick access to Oman’s various land, sea and airports.
The signing of these agreements reflects the continuous successes achieved by Khazaen Economic City in attracting Omani and foreign investors, especially after the completion of the first phase of the infrastructure works. Many have moved in since the inauguration of the Khazaen Dry Port.
Khazaen is Oman’s most recent integrated economic city being developed in the Wilayat of Barka, South Al Batinah Governorate. The city, strategically located near the capital city of Muscat, is only 30 minutes from Muscat International Airport and around two hours from Sohar Port. Khazaen will be linked through the proposed railway project in the future, making it an ideal location with multimodal transport options. Khazaen is the ideal logistics, warehousing, light industrial and commercial hub linking the main modes of transportation in and out of Oman.
The new integrated economic city is the home of Oman’s first dry port which has been recently inaugurated, besides multi-mix residential units, entertainment facilities, retail outlets, international schools and modern healthcare centres which will offer all residents a community where they can efficiently conduct business, work, life and play.