Salalah Free Zone signs agreement for $88mn petrochemicals factory
Salalah Free Zone on Thursday signed a usufruct agreement with Salalah Petroleum Company to establish a new factory for the production of petrochemical products with an estimated investment of US$88mn.
'We welcome Salalah Petroleum Company to establish a factory for the manufacturing and production of petrochemical products with an investment of US$88mn on a land area of 78,000 sqm,' Salalah Free Zone said in a tweet.
The new factory, a multifunctional unit to treat and produce petrochemical products, will be an important addition to the petrochemical sector projects in Salalah Free Zone.
The factory’s petrochemical products will be handled through the Port of Salalah which will enhance the performance of the maritime transport sector.
Salalah Free Zone on Thursday also signed a second agreement for the establishment of a workshop for the maintenance and repair of containers.
'We welcome Majan Logistics Solutions Company which will establish a company in Salalah Free Zone,' Salalah Free Zone said in another tweet.
The new company, which will be established by Majan Logistics Solutions with an estimated investment of US$1mn, will be specialised in providing logistic services, manufacturing and maintenance of containers in Salalah. The project will cover a total area of 3,000 sqm.
The workshop will also provide services for transforming and designing containers in the shapes of houses, restaurants and rooms based on international standards.
Salalah Free Zone said that these two agreements will contribute to the national economy by creating direct job opportunities.
Salalah Free Zone offers economic incentives for investors, particularly tax exemptions and complete ownership of the projects. The zone boasts a strategic position next to the Port of Salalah.