Thursday 25 / April / 2024
Muscat: Iranian companies are seeking to establish or expand their presence in Oman after the lifting of the economic sanctions against Iran, through the platform provided by Iran’s second solo exhibition in Muscat.
A number of companies active in various fields such as car, steel, cement and foodstuff production, are participating in the exhibit, which opened on January 26 and runs until January 30 at the Oman International Exhibition Centre. The exhibition will be officially inaugurated on January 27.
Speaking to ‘Times of Oman’, H. N. Ravindra, country manager – Oman, Iran Insurance Company (Bimeh Iran), said that their activities are expected to increase after the lifting of the economic sanctions against Iran and the company is keen to offer its services to Iranian and Omani investors.
Iran Insurance Company was established in Iran in 1935 as the first-ever national insurance enterprise and, thus, the founder of the country’s insurance industry. It has several overseas branches and agencies. The company is the only Iranian insurance company established in Oman, Ravindra said, adding that an increase in investments is expected by both Iranians and Omanis in each other’s countries.
“Being an Iranian insurance company established in Iran and also in Oman, we can play a dual role,” the official said. The company will be the first point of contact for Iranians who want to invest in Oman as most of them would have already been working with the company in Iran, Ravindra said.
This is important given Iran’s planned investments especially in Duqm and the plans to enhance shipping services between the two countries, he added, noting that assistance can also be offered to potential Omani investors in Iran.
Motogen
Another exhibitor, Motogen, a manufacturer of household and industrial electromotors, is seeking to establish its presence in Oman.
Gholamreza Abdi Rahmani, Motogen’s quality control manager, said that the company’s products, which are of high quality and meet the international standards, can be used for various purposes and are available in different sizes.
He said that the company’s products were being exported to European countries such as Italy and Germany before economic sanctions were imposed on Iran and currently Motogen exports its products to a number of countries including Iraq and Sudan.
Iraj Rahimpour, export manager of Motogen, said that the company has not exported its products to Oman yet and plans to find an Omani partner or agency to enter the Sultanate’s market through the opportunity provided by the exhibition and with the cooperation of the Iranian embassy.
He also noted that the company would welcome any invest by Omani investors in Iran, adding that Motogen is interested in sharing its knowledge and experience with Omani companies. Rahimpour also sees potential for the re-export of their products to other countries through Oman considering Motogen’s production capacity.
Khouzestan Steel
Khouzestan Steel Company, the second largest crude steel producer in Iran, has also participated in the exhibition to explore new ways to enhance cooperation with Oman after the lifting of the economic sanctions against Iran.
Bahman Tajallizadeh, a deputy in charge of sales and marketing at Khouzestan Steel Company, said that Oman is a major market for the company and its exports to Oman account for more than 20 per cent of the company’s total exports.
The company was established in 1973 and is the first producer of iron and steel in Iran based on direct reduction method and electric-arc furnaces technology (EAF). It has three main production units, namely pelletising plants, direct reduction plant and steel-making plant.
Tajallizadeh said that the company’s capacity is around 4 million tonnes per year and is expected to reach to 5 million tonnes in around a year and a half considering its expansion projects. The official noted that their products are being purchased by a number of companies in Oman, which are based in Muscat and Sohar.
Omani investors can invest in the company’s production activities in Iran such as the production of sponge iron, he said, adding that Khouzestan Steel Company has already been cooperating with Omani companies in terms of the transfer of knowledge and technology.
