OIA announces 10 national projects worth Ro750mn

Muscat - Marking the 52nd National Day, Oman Investment Authority (OIA) announced ten national projects, spread across governorates in different sectors, with an investment value of over Ro750mn on Saturday.

The projects, to be developed and some already in advance stage of development, aim to contribute to the efforts of enhancing economic diversification, developing governorates, attracting investments, empowering the private sector, and creating more than 860 jobs for Omanis.

The ten projects include the Ro60mn Sanvira Carbon – a petroleum coke calcination facility in Sohar Freezone, Ro26mn Gulf International Poultry Farm with production capacity of up to 360mn eggs annually, Ro21mn grain storage silos with a storage capacity of up to 160,000 tonnes, and Ro178mn Salalah Ammonia with daily production of 1,000 tonnes of ammonia.

The projects are part of OIA’S National Development Portfolio, which manages 160-plus local assets and companies. The portfolio, aiming to contribute to the growth and development of the economy and support the General State Budget, has eight priorities - financial sustainability, selective growth, contribution to GDP, wooing investors, divestment, contribution to ICV, synergies, and governance implementation.

The Oman Investment Authority (OIA) has announced the inauguration of 10 national projects in a number of governorates across different sectors, with an investment value of over Ro750mn.

In a press statement, Hisham al Sheedi, director – economic diversification investments at OIA, said that the ten projects reflect OIA’S strategy and goals that align with Oman’s Vision 2040.

“OIA performs its role in developing targeted economic sectors by implementing large projects in partnership with the private sector across Oman’s governorates. These projects are competitive and attractive to investors, have many economic and social effects, and serve the national targets with regard to Omanization,” he said.

The inauguration of these ten projects will commence with Sanvira Carbon (SFZ) – a joint venture between Tanmia, Sanvira Industries, and United Business Trading – which targets the establishment of a petroleum coke calcining facility in Sohar Freezone.

The Sanvira Carbon (SFZ) project will have a production capacity of 500,000 tonnes of calcined petroleum coke annually in the first phase. The project, with an investment value of over Ro60mn, will contribute to diversifying Omani industries and enhancing their presence in the local market to replace imported industries, in addition to exporting approximately 70 per cent of calcined petroleum coke to contribute to the sultanate's foreign exchange reserves.

Oman Flour Mills Company will launch two projects in collaboration with OIA subsidiary Oman Food Investment Holding Company. The first project is the Gulf International Poultry Farm in Ibri which is established in partnership with the Gulf Japan Food Fund, Japanese Ice Foods Company, and IFFCO. The farm, worth over Ro26mn, occupies an area of 18mn sqm. It is considered one of the largest egg farms in the GCC, with a production capacity of up to 360mn eggs annually.

Oman Flour Mills Company's second project is the ‘Grain Storage Silos,’ with a value of Ro21mn. Located in Sohar Industrial Port, the project supports the sultanate’s food security strategy with a storage capacity of up to 160,000 tonnes.

OQ Group is also launching two projects. The first one is Salalah Ammonia Project worth

Ro178mn. It targets the daily production of 1,000 tonnes of ammonia which will be used for manufacturing fertilisers, detergents, refrigeration equipment, and other chemical products that will be exported through Salalah Port. OQ Group's second project, 'Bissat A, B & C, is worth Ro157mn and located in the concession area Block 60, in Al Wusta.

Moreover, Oman Water & Wastewater Services Company is launching two projects for supplying water from Sohar to Ibri and for supplying water to Jebel Akhdar in Ad Dakhiliyah. The combined value of these two projects is over Ro177mn.

In Duqm, the Boat Refueling Station and Tank Farm project implemented by Oman Oil Marketing Company is the first boat tank farm in the Special Economic Zone at Duqm. It aims to promote the position of Duqm Port among the international ports. The project, worth Ro11mn, will attract ships to stop and receive services from the port.

Oman Power and Water Procurement Company (OPWP), a subsidiary of OIA company Nama, is partnering with Al Asilah Desalination Company for ‘Ash Sharqiyah Water Desalination Plant’ project in Jalan Bani Bu Ali, Sharqiyah South. This joint venture is worth over Ro60mn. This is the first project in Oman

with a solar power plant that generates power for the desalination of seawater, with a capacity of 80,000 cubic meters per day.

Furthermore, Jumeirah Hotel in Qantab, is one of the projects that Omran Group is developing. It created 260 direct jobs and has a value of up to around Ro60mn. It offers 206 spacious rooms and suites, summer houses, and luxurious villas that provide visitors with an authentic hospitality experience that combines adventure and comfort, a health club (spa), a fitness and entertainment center, a multi-purpose hall, and a diving center.