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Khazaen signs investment deals for two major projects

5 Oct 2021 Khazaen By OUR CORRESPONDENT

Muscat – Khazaen Economic City on Tuesday announced the signing of two new investment agreements to establish an integrated food facility and a plastic and fiberglass unit.

Under the first agreement, Salalah Mills Company will lease a 20,000 sqm of industrial land to set up an integrated food production facility at Khazaen.

As per the second agreement, Al Hilal Industrial Group will establish an industrial project to manufacture plastic and fiberglass materials, apart from a logistical project to set up the group’s warehouses on a total area of 30,000 sqm.

The pacts were signed by Eng Salim Suleiman al Thuhli, CEO, Khazaen and CEOs of both companies.

In a statement, Thuhli said, “We are pleased to welcome both Salalah Mills Company and Al Hilal Industrial Group to Khazaen Economic City, which is witnessing rapid growth and seeing increasing demand among various companies and investors. These projects are of great importance to the local market and to Khazaen. We are delighted with our success in attracting such projects. This reflects the investors’ confidence in Khazaen and the services it provides. Khazaen will continue its efforts to attract more investors and quality projects.”

Ahmed Alawi al Dhahab, CEO of Salalah Mills Company, expressed his happiness on signing the agreement for setting up the food processing unit which is estimated to cost about RO12mn.

He said that the first phase of Salalah Mills Company’s project will include an industrial laboratory and production lines for frozen and semi-cooked pastries. “In the second phase, new production lines for frozen cakes, snacks, noodles and biscuits will be added. Production at the facility is expected to start by mid-2023.”

Sheikh Khalil bin Ibrahim al Hinai, chairman of Al Hilal Industrial Group, said, “We are pleased to sign this agreement, through which we aim to establish an industrial project specialising in production of plastic and fiberglass materials, in addition to another logistical project to set up warehouses for the group on a total area of 30,000 sqm. These projects are part of the group’s local expansion plans.”

Hinai praised the facilities and incentives provided by Khazaen to investors, its proximity to Muscat Governorate and its connectivity to the main road network and ports and added that these factors played a vital part in choosing Khazaen.

The signing of these agreements reflects the continuous successes achieved by Khazaen Economic City in attracting Omani and foreign investors, especially after completion of the first phase of the infrastructure works. Many have moved in since the inauguration of the Khazaen Dry Port.

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