Partnership formed to establish chemical manufacturing plant

Muscat: Sohar Freezone, a leading industrial hub in the region, announced a strategic partnership with Nasim Chemicals SFZ, a prominent player in the chemical industry.

This collaboration will witness the establishment of a dioctyl phthalate and dioctyl terephthalate plant within the Sohar Freezone, aimed at catering to the growing demand for high-quality chemical products in the GCC, India and African markets.

With a total investment of $10.4 million, the plant covers an area of 5,000 sqm and will boast a production capacity of 30,000 tonnes, reinforcing the region's industrial capabilities. The partnership will significantly boost the logistics movement and elevate the throughput levels with more than 2000 TEUs annually.

Commenting on this agreement, Fayaz Hameedi, Co-Shareholder of Nasim Chemicals SFZ, said, “We are excited about this joint venture with Sohar Freezone and the opportunities it presents. Our partnership signifies our confidence in the region's potential and our commitment to providing high-quality chemical products to the market. By leveraging the strategic advantages offered by Sohar Freezone and its proximity to key markets, we aim to establish ourselves as a leading player in the industry."

Omar Al Mahrizi, CEO of Sohar Freezone, DCEO Sohar Port said: “We are thrilled to partner with Nasim Chemicals SFZ in this significant agreement. The establishment of the Dioctyl Phthalate and Dioctyl Terephthalate Plant further strengthens Sohar Freezone's position as a key industrial player for business and innovation in the region. This collaboration aligns perfectly with our vision of fostering economic growth and attracting strategic investments to Oman.”

The plant will create downstream opportunities including the production of PVC products such as plastic film and sheets, wire and cable insulation, and flooring and wall coverings. It will be developed in two phases, with construction commencing by the end of this year. Production is estimated to commence by the end of 2024.

Sohar Freezone reaffirms its position as an integrated logistics and industrial hub, leveraging the latest global technologies and adhering to the highest sustainability standards across its diverse activities. The collaboration aligns with the objectives outlined in Oman Vision 2040.”