The Public Establishment for Industrial Estates – Madayn and its investment arm Shumookh Investment and Services signed a cooperation agreement with Advanced Universal Tech to establish Oman Nano City in Sur Industrial City.
The city aims at implementing, developing, and managing a project that promotes nanotechnology in the sultanate as well as attracting industries and investments and providing support to investors through regional and international competitive strategies. Oman Nano City project aspires eventually to diversify income sources, attract foreign investment, create new jobs, and support innovation and an entrepreneurship community.
The agreement was signed by Hilal bin Hamad al Hasani, CEO of Madayn, Eng Musallam bin Juma’a aAl Hudaifi, CEO of Shumookh Investment and Services, and Eng Qasim bin Habib al Lawati, partner and founder of Advanced Universal Tech.
Hasani emphasised that this agreement aims at establishing an incubator for nanotechnology in the sultanate supported with high quality infrastructure and excellent services through forming teams of experts and providing continued support for the project. “Oman Nano City will contribute in developing the manufacturing sector, creating links between industries, universities, colleges, schools, and research institutions, and providing on-job training opportunities,” he pointed out.
Oman Nano City also aims at supporting innovation in the sultanate through transforming laboratory research into new products, as innovations give manufacturers the performance or cost edge they need to compete in international marketplace, which will consequently allow to achieve Madayn’s objectives in introducing advanced technologies, equipping the workforce with necessary technical skills to boost productivity, and creating new job opportunities for the national cadres.
Eng Lawati stated that Oman Nano City aims at contributing to the sustainability and support of the national economy, as the project comes in line with Oman Vision 2040. “Oman Nano City will be built on a total area of one square kilometre to act as an incubator for innovations and industries related to nanotechnology. The project will be equipped with a main administration centre in addition to various public facilities such as a hotel, cultural centre, business centre, banks, shopping centres, clinics, logistics services, and a residential area equipped with quality services for the workforce based in factories,” Lawati said.
“Oman Nano City will be designed to comprise 11 sectors and feature teams that represent bodies from the business sectors, higher education and research fields, and industrialists in the field of nanotechnologies from developed countries in order to benefit from the expertise in this field,” he added.
Eng Hudaifi commented that the vision of this project is to contribute in making Oman an integrated centre of excellence in innovation, research, education, and entrepreneurship of nanotechnology. “Oman Nano City project will play a role in presenting opportunities to develop and export nanotechnology products and services to the MENA region by inking cooperation and affiliation pacts with leading agencies and industries specialised in nanotechnology,” Hudaifi said.
The project is expected to attract international investors to set up industrial projects in various fields such as building and construction, water and environment, health care, medicines, cosmetics, automotive and industrial parts, equipment and services, textiles and clothes, polymers, chemicals, and raw materials.