Sohar Port signs agreement for establishing quartz manufacturing plant

Business Monday 28/October/2019 17:28 PM
By: Times News Service
Sohar Port signs agreement for establishing quartz manufacturing plant

Muscat: Sohar Port and Freezone signed a land lease agreement for the establishing a quartz manufacturing plant with Madhav Surfaces, a joint venture between Al Khanjar Commercial Agencies, a subsidiary of Khimji Ramdas, and Madhav Ashok Ventures Private Limited (MAVPL) based in India.
The agreement was signed between Dr Mohammed Nasser Al Zaabi, chairman of the Board of Sohar Port and Freezone and Nailesh Khimji, chairman of the Board of Directors of Madhav Surfaces, representing Al Khanjar Commercial Agencies.
This project is a continuation of the efforts of Sohar Freezone to achieve its objectives by attracting various value-added projects that contribute to increasing the economic returns and diversifying technology to drive sustainable development in the Sultanate. The plant will see a total capital investment of over OMR 3.8 million (USD 10 million) and will take up an area of 20,000 m2 at Sohar Freezone. The facility will be primarily used for the manufacturing of quartz slabs and other quartz products using chrome ore and calcined lime from the local market, to be exported to the USA and Europe, alongside the polishing of quartz slabs.
Nailesh Khimji commented, “This agreement marks a new step in the success journey of our investments in the Sultanate, which enjoys a reputation as a stable country for potential projects and investments. The introduction of the new quartz plant will contribute towards the efforts of promoting the export of high-quality Omani products into international markets.”