Muscat – In a move towards establishing a comprehensive industrial waste management system, Oman Environmental Services Holding Company (be’ah) and ahli Islamic, the Islamic banking window of ahlibank, signed a RO51mn financing agreement on Thursday.

The agreement will fund the second phase of an industrial waste treatment facility in the Sohar Free Zone, following the successful completion of its first phase.

Valued at RO51mn, the financing agreement will support the development of a specialised hazardous waste treatment plant, upgrade physico-chemical treatment technologies, and establish modern facilities for handling used oils and highly toxic waste. The funds will also cover the installation of smart storage tanks and advanced infrastructure to improve operational efficiency.

The first phase, which has been operational for several years, includes industrial landfills, solid waste storage units, a solidification plant, and a specialised laboratory accredited by the Gulf Accreditation Centre – Oman’s only such facility.

Once fully completed, the project is expected to contribute to the national economy by supporting sustainability goals and advancing the principles of a circular economy. It also aligns with Oman Vision 2040 by creating infrastructure that supports heavy and light industrial projects, generating job opportunities, and maximising the value of waste resources within the country.

Eng Abdulkarim bin Qasim al Balushi, Chief Operating Officer for Hazardous Waste at be’ah, highlighted the importance of financial backing for such projects. He said, “This project represents a significant leap in waste management, particularly considering the increasing industrial activities in Oman. It aligns with the national industrial waste management strategy to provide comprehensive and sustainable solutions to waste challenges.”

Yousuf al Rawahi, Head of ahli islamic, added, “We are proud to support be’ah in its mission to develop a sustainable industrial waste management system in Oman. This financing agreement reflects our commitment to projects aligned with Oman Vision 2040, promoting economic growth and environmental sustainability.”

The project adheres to the Basel Convention on the control of hazardous waste movement and disposal, reinforcing Oman’s commitment to international environmental standards.

With the completion of the second phase, the integrated facility in the Sohar Free Zone is expected to transform Oman’s industrial waste management sector, setting new benchmarks for hazardous waste treatment and meeting the growing demands of the nation’s industrial sector while ensuring environmental sustainability.