Agreement inked to establish polymer products factory in Samail Industrial City

Business Wednesday 11/October/2023 17:00 PM
By: Times News Service
Agreement inked to establish polymer products factory in Samail Industrial City

Muscat: Oranss Technology Company and Mobel Polymers have signed an agreement to establish a polymer products manufacturing factory in Samail Industrial City, with an investment value of $7 million for its initial phase.

The signing ceremony, attended by Eng. Dawood bin Salim Al Hadabi, CEO of the Public Establishment for Industrial Estates (Madayn), took place on the sidelines of the two companies’ participation at the ongoing Home and Building Expo at the Oman Convention and Exhibition Centre.

The agreement was signed by Sharifa Al Naamani, Chairperson of Oranss Technology Board of Directors and Dr Hany Makary, Chairman of Mobel Polymers Board of Directors. Commenting on this agreement, Sharifa Al Naamani pointed out that the factory’s output will serve as a pivotal source of raw materials for various manufacturing sectors within the Sultanate, which were previously reliant on imports, thereby catalysing the growth of Omani industries.

“The partnership forged between Oranss Technology and Mobel Polymers represents the strong bond between the Sultanate and Egypt, encouraging innovation, economic growth, and international cooperation,” she said. Al Naamani underscored the company’s vision, which aims to boost Oman’s industrial sector, explore new opportunities for Omani investors, attract international expertise for knowledge exchange, and develop a highly skilled Omani workforce.