Muscat – OQ Group signed seven investment agreements worth RO25.5mn (US$66.4mn) with local and international companies on Sunday to develop industrial projects under the Ladayn Plastic Industries Programme. This aims to strengthen Oman’s industrial base, promote economic diversification and expand export opportunities.

The agreements, signed in collaboration with Public Establishment for Industrial Estates (Madayn), the National Programme for Private Sector and Foreign Trade Development (Nazdaher), and Ministry of Commerce, Industry and Investment Promotion, seek to attract investments, make better use of natural resources and support private sector-led industrial growth.

The signing ceremony was attended by Abdulsalam al Murshidi, President of Oman Investment Authority, Ashraf al Mamari, Group CEO of OQ, and other senior officials.

Under the agreements, OQ Group will supply raw materials to participating companies, while Madayn signed 33-year renewable land usufruct deals with Multibond Metal, Sidra International Industries and National Oasis. Dawood al Hadabi, CEO, signed the agreements on behalf of Madayn.

Additional agreements were signed by Mohammed bin Ali al Shezawi, Acting CEO of Sohar Free Zone, with Midim Investment Company and Ideal Plastic Company. Ali bin Mohammed Tabuk, CEO of Salalah Free Zone, signed a land usufruct agreement with Ethiopia’s Ras Biru Trading Company.

“The agreements mark a significant step in efforts to boost investment in Sohar Industrial City and generate employment opportunities,” Hadabi said, adding that the Ladayn programme is expanding beyond Madayn-managed industrial cities to support broader investment goals.