Foundation stone of curcumin plant laid in Salalah, $60m worth agreements signed

Salalah: A foundation-stone laying ceremony was held at Salalah Free Zone (SFZ) on Wednesday for a plant, which will produce 25 tonnes per annum of curcumin and basic oils extracted from turmeric.
The ceremony was held under the auspices of Ahmed bin Nasser Al Meherzi, Minister of Tourism, Chairman of the SFZ Board of Directors, who pointed out that the zone endeavours to attract local and foreign investments that contribute to enhancing the growth of our national economy.
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Awadh bin Salem Al Shanfri, CEO of Salalah Free Zone delivered a speech during which he said that the four investment agreements worth of $60 million, which were signed today, will create more than 440 job opportunities.
On his part, Alok Agrawal, Chairman of Fortune Bio Organic, the owner of the plant, delivered a speech during which he praised the support and cooperation provided by Salalah Free Zone. He stressed the company’s interest to pump new investments in other production lines.
The ceremony included a presentation on the turmeric-based curcumin and basic oils plant.
The CEO of Salalah Free Zone Company then signed three agreements.
The first agreement, worth of $25 million, is related to setting up a plant for polyester granules and packing bags.
The second agreement with Oman Pens and Paper Manufacturing Co Ltd, worth of $10 million, is related to setting up an international plant for manufacturing pens.
The third agreement worth of $5 million, with Gulf Technology Industries, is related to setting up a plant for packaging and wrapping products at a cost of $5 million.
The chief guest then laid the foundation stone for the curcumin plant.
On the other hand, Ali bin Mohammed Tabuk, Deputy CEO of Salalah Free Zone said that work is underway to offer several promising investment opportunities for foreign investors after completing the necessary formalities.
It should be noted that curcumin and other basic oil extracted from turmeric are used in many drugs, pharmaceutical products, foods and cosmetics. The demand for the products is high as they contain antioxidants. The plant’s production estimated by 25 tonnes daily.