Muscat – Salalah Free Zone, operated by Asyad Group, on Sunday celebrated the inauguration of three new export-oriented projects in the foods, petrochemicals, and mining industries.
The total value of these three projects is RO23.4mn, contributing to the existing investments and businesses within the free zone, according to a press statement.
Under the patronage of H E Dr Mahad Said Baowain, Minister of Labour, the inauguration ceremony saw the presence of H E Dr Ali Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), and several high-ranking government officials.
During the event, Salalah Free Zone provided an overview of the three high-value projects. The first project is a RO9.6mn food processing plant by the Special Integrated Food Company (SIFCO). The second project is the first phase of Al Namariq Mining Company’s quicklime plant, a RO10mn Omani-Iraqi joint venture.
The third project is a RO3.8mn fabric and plastics manufacturing and packaging plant established by Apex Transgulf Manufacturing, targeting local and regional markets in various industries, including healthcare, food, and beverages.
Dr Ali Mohammed Tabouk, CEO of Salalah Free Zone, commented on the latest investments, saying, “These new project additions reflect the critical role of Salalah Free Zone in driving industrial progress and stimulating economic growth in Oman. We are proud of the strategic transnational partnerships unveiled today with market players from Yemen, Iraq, and Pakistan, which will bolster the manufacturing and value-added capabilities in the sultanate.”
All three new plants are equipped with the latest production technology and hardware, optimising production capacities and product quality while capitalising on the unique competitive advantages offered by Salalah Free Zone, he said.
“Such new ventures enable sustainable development in Oman by enhancing the country’s industrial infrastructure, increasing exports, and boosting trade. We look forward to supporting our partners’ growth and contribution to Oman’s economy,” Tabouk said.
Aligned with Asyad Group and OPAZ’s investment strategy, the inauguration of these new projects further demonstrates the stakeholders’ commitment to creating an attractive and stable investment environment that unlocks business opportunities and stimulates growth across Omani free zones.
Salalah Free Zone, a regional business hub for industrial and logistics activities, reported impressive investment growth for 2023, securing new investments worth RO728mn during the year.
The zone signed nine new investment agreements, allocated 1.2mn square meters of leased land, and issued eight construction permits in 2023. These accomplishments have led to a substantial surge in cumulative investments, now exceeding RO4.5bn, with a land occupancy rate surpassing 50%, including 129 investments and a leased land area of 6mn square meters.
By improving its integrated logistics solutions and land offerings, Salalah Free Zone is becoming a major hub for regional and global businesses to expand into Oman, create distribution centers, and capitalise on fast, seamless access to the largest consumer markets worldwide.
As a premier hub for high-quality industrial and logistical activities, Salalah Free Zone extends various economic incentives, advantages, and facilities to investors. Noteworthy among these are tax exemptions and the right to full foreign ownership of investment projects. Additionally, the zone’s strategic location next to the Port of Salalah, overlooking major global shipping routes, positions it among the world’s top-tier commercial ports.