Muscat – Oman’s global integrated energy group OQ will establish a plastics industries park in the Suhar Industrial City that will produce high value-added semi-finished and finished plastics products.

OQ on Monday announced that it has signed a memorandum of understanding (MoU) with the Public Establishment for Industrial Estates (Madayn) to establish the plastics project on a 1mn sqm area within Suhar Industrial City.

The MoU was signed by Hilal bin Ali al Kharusi, chief executive – commercial and downstream at OQ, Hilal bin Hamed al Hasni, chief executive officer of Madayn, and Dr. Ayman bin Abdullah al Fudhaili, acting CEO of the Industrial Innovation Academy.

The signing ceremony took place under the patronage of H E Dr Khamis bin Saif al Jabri, chairman of the Implementation Support and Follow-up Unit, according to the tweets posted by OQ.

‘The plastics park will produce semi-finished and finished high value-added plastic products with OQ serving as the major provider of high-quality raw materials. The plastics park is another accomplishment in OQ’s repertoire in line with Oman Vision 2040,’ OQ said.

Madayn – which manages and operates industrial cities in Oman – in its tweets confirmed that Industrial Innovation Academy and Madayn signed the MoU with OQ aimed at developing plastics industries complex on an area exceeding 1mn sqm in the Suhar Industrial City.

‘This new complex will play a key role in promoting value-added plastic industries and offering investment opportunities for SMEs,’ Madayn added.