Oman-India Investment Meet concludes

MUSCAT: Organised by the Public Establishment for Industrial Estates – Madayn to strengthen investment ties between the Sultanate and India, the two-day Oman-India Investment Meet concluded yesterday. The event was attended by a high profile business delegation from India comprising 35 businessmen representing sectors including food, logistics, information technology, telecommunications and renewable energy.

During the second day of the event, a field visit was organised to Al Rusayl Industrial City where the Indian delegation was briefed on the current projects implemented by Oman Investment and Development Holding Company (Mubadrah) at Al Rusayl. These projects include the logistics project valued at around OMR1,600,000; new gates and entrances project with a value of OMR2,500,000 and the project of developing and incorporating services to expand the industrial city with a total value reaching OMR34,000,000. Furthermore, Mubadrah is also preparing to float a tender for B2 Phase to expand Al Rusayl Industrial City. The value of this tender is expected to touch OMR15,000,000.

The officials also highlighted that the total area of Al Rusayl Industrial City has come close to 11 million sqm by the end of 2018 and is home to 309 projects. The total volume of investments in this industrial city has touched approximately OMR372,554,229 and the number of the national and foreign workforce has reached 21,881 during the same period.

During discussions, the Indian delegation was acquainted with the localisation process in the various industrial cities in Oman, the objectives of the one-stop-shop, time taken to finalise the procedures, in addition to the types of investments in the country.