Wednesday 24 / April / 2024
Muscat: Samail Industrial City, which pertains to the Public Establishment for Industrial Estates (Madayn), signed an agreement with Fatfat and Yaghi Construction to set up a project for the manufacturing and installation of metal products.
The project is coming up in an area of 11,225 square metres with an investment value touching OMR350,000.
This brings the total number of the signed investment pacts in Samail Industrial City in 2022 to six pacts in various sectors.
It is worthwhile to mention that Samail Industrial City received 27 investment applications in 2021 representing industrial, service and commercial projects.
Of these applications, 19 projects were localised in the industrial city and are expected to provide 300 new job opportunities.
Samail Industrial City, in cooperation with the competent bodies, aim at increasing employment opportunities for the national cadres in the industrial city.
In 2021, the investment volume in Samail Industrial City increased from OMR85 million to OMR115 million, and is expected to touch OMR120 million upon the completion of the new projects this year.
Moreover, the existing projects in the industrial city seek to expand and introduce new production lines. It should be noted that the Omani investors in the industrial city account for 75 per cent of the total investing projects in Samail Industrial City.
