Indian delegation explores investment opportunities

Business Saturday 14/December/2019 17:48 PM
By: Times News Service
Indian delegation explores investment opportunities

Muscat: A high profile Indian delegation chaired by Saurabhbhai Patel, the Energy Minister of Gujarat, India visited the headquarters of the Public Establishment for Industrial Estates – Madayn at the Knowledge Oasis Muscat. The delegation was received by Hilal bin Hamad Al Hasani, Chief Executive Officer of Madayn.
Madayn officials briefed the delegates on the investment opportunities available in Madayn’s various industrial cities, the strategic location enjoyed by the Sultanate, and the advantages and incentives offered to the local and foreign investors. Al Hasani elaborated on the vision of Madayn in enhancing the Sultanate’s position as a leading regional centre of manufacturing, ICT, innovation and entrepreneurship excellence, and its mission in attracting industrial investments and providing continued support, through regionally and globally competitive strategies, good infrastructure, value-adding services, and easy governmental processes.
Khalid Al Salhi, director of Marketing and Promotion at Madayn delivered a presentation on the available investment opportunities in manufacturing, light and medium industries in Madayn’s industrial cities. Al Salhi pointed out that the development project of Samail Industrial City is close to completion on an area exceeding 7.5 million sqm, and phase seven of Sohar Industrial City covers an area exceeding 21 million sqm.
The incentives and facilities offered by Madayn to the investors were also underlined at the delegation meeting. These include lease period of lands and facilities for up to 30 years, renewable for the same period (83.5 baisa/per metre per month); right to waive the lease right for the remaining period of the contract; right to sell constructions and buildings on the leased land; right to involve new partners in the lease contract; fair evaluation of buildings and facilities upon the termination of the lease contract; developed and equipped lands with basic services (water, electricity, telecom, roads); and transparent legal frameworks illustrating rights and obligations; punctuality in service delivery; in addition to other incentives.
The Indian delegation then toured the National Business Centre (NBC), which is an incubator established by Madayn to offer the SMEs an ideal platform to develop their business ideas into growing ventures. The delegation, which comprises businessmen of different industries, then visited Al Rusayl Industrial City that was established in 1983 under the name of Rusayl Industrial Estate Authority. In 1993, Madayn was established to ensure continued success and development of the industrial sector in Oman. Today, Madayn manages and operates seven industrial cities in Sohar, Raysut, Nizwa, Sur, Al Buraimi, Al Rusayl, Samail, in addition to the Knowledge Oasis Muscat and Al Mazunah Free Zone.
Finally, the Indian delegation visited Oman Cables Industry, which is located at Al Rusayl Industrial City where they were introduced to the company’s history and track record. Oman Cables Industry is recognised for developing, manufacturing and marketing an integrated variety of electrical products, which include medium voltage power cables, low voltage power and control cables, instrumentation cables, pilot cables, overhead power transmission line conductors and building wires.