Friday 08 / November / 2024
Muscat: Salalah Free Zone, a subsidiary of Asyad Group, signed an agreement to establish a project for processing ferrous alloys and high-quality recycled wrapping paper. The agreement was signed with the Chinese silicon industry company Besto Hengda Oman.
The project will be built on an area of 300,000 square metres, with an investment worth OMR88.5 million ($230 million).
In its first phase, its production capacity is scheduled to reach about 90,000 tonnes of ferrosilicon alloys annually. The output will be doubled in the second phase to 180,000 tonnes per annum.
The production capacity of recycled wrapping paper in the first phase is about 300,000 tonnes annually.
Represented by Asyad of Oman Investment Authority (OIA), Salalah Free Zone provides competitive incentives that make it easier for investors and industrialists to establish projects and start operating, producing and exporting rapidly and efficiently.
