Muscat – Salalah Free Zone, a subsidiary of Asyad Group, has signed a new investment agreement for the establishment of a major ferroalloy and high-quality packaging paper production plant in Salalah.
The project will be built on an area of 300,000 square meters with an investment of US$230mn, Salalah Free Zone announced in a tweet.
Salalah Free Zone signed the agreement with the Chinese silicon industry company Besto Hengda Oman to set up the project.
In the first phase development, the plant will have annual production capacity of 90,000 tonnes of ferrosillicon alloys. The output will be doubled in the second phase to 180,000 tonnes per annum, Salalah Free Zone said.
The production capacity for recycled packaging paper will be about 300,000 tonnes annually in the first phase.
Salalah Free Zone, situated adjacent to the Port of Salalah, is managed and operated by Salalah Free Zone Company and is one of Oman’s most important industrial hubs. The free zone is highly competitive in the region for labour, utilities and infrastructure costs, and located in close proximity to raw material sources and emerging markets.
Salalah Free Zone provides competitive incentives that make it easier for investors and industrialists to establish projects and start operating, producing and exporting rapidly and efficiently.