Tuesday 19 June 2018

Oman industrial estate attracts $259m investment

Muscat, November 12, 2013

The total investments in Oman's Sumail industrial estate has surged to more than RO100 million ($259 million) this year amid rising demand from investors for key plots in the facility, said a top official.

"The volume of Omani investments in the estate has touched around 77.4 per cent of total investments, while 15.4 per cent represents foreign investments and seven per cent represents Gulf investment. This positively confirms the influence of national investments and the confidence given by national investors," remarked Dawood bin Salim Al Hadabi, the acting director general.

"The figure is growing in line with the constant demand by investors for available space," stated Al Hadabi.

According to him, a total of 175 projects have been localised in Sumail Industrial Estate representing various key industries including steel, building materials, and chemicals industries.

"There is currently an existing plant that was officially inaugurated and around 18 plants under construction. Most of these plants are at an advanced stage of construction and will be inaugurated soon," Al Haddabi pointed out.

The industrial estate is divided into several sectors; for each sector there is sufficient space for the localisation of a number of industries.

"The estate embraces the food industry, which has achieved 46 per cent of occupancy rate; the plastic materials industry, which has touched 92 per cent of occupancy rate," he noted.

"Besides, the steel industry has reached 100 per cent of occupancy rate in the estate; the rate touched 87 per cent in the marble industry; 96 per cent in the building materials industry; and 59 per cent in the rest of industries comprising chemicals, glass, wood, fiberglass, and supporting services sector (e.g. warehouses)," said the top official.

Al Hadabi pointed out that the strategic location of the estate will attract the factories which are willing to expand close to the capital Muscat and to Rusayl Industrial Estate.

"In fact, being located on the main road linking Muscat to Al Dakhiliyah and Al Sharqiyah governorates, the Sumail Industrial Estate will position the estate as a strategic location in pushing the industry forward and contributing to the development of the country," he noted.

Since this was the first industrial estate being fully developed for all sectors, Al Hadabi said the infrastructure will be established as per the highest standards of quality and safety in addition to providing support services.

"The estate aims to attract investments from within and outside the Sultanate and will focus on providing services in accordance with the requirements of investors. For instance, advanced telecom services will be offered in the estate along with several facilities which will provide entertainment amenities for the estate's employees."

"Furthermore, the estate has allocated spaces for the establishment of warehouses and logistics services, which add a distinctive feature for investors," he added.-TradeArabia News Service

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