Oman Investment Authority to launch strategic projects in various sectors

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
OIA announces strategic projects
Representational Image

Oman Investment Authority (OIA) has announced the launching of 10 national projects across different sectors with an investment value exceeding $1.9 billion (OMR750 million).

The launch of these projects comes against the backdrop of celebrations marking Oman’s 52nd Glorious National Day. The projects are in partnership with OIA Companies and a number of national and international partners.

According to the statement, they aim to contribute to the efforts of enhancing economic diversification, developing governorates, attracting investments, empowering the private sector, and creating more than 860 direct and indirect job opportunities for Omanis.

Mr. Hisham bin Ahmed al Sheidi, Director General of Economic Diversification Investments at the Oman Investment Authority, said that “these projects aim to contribute to efforts aimed at economic diversification, developing governorates, attracting investments, empowering the private sector, and creating job opportunities for citizens that exceed 860 direct and indirect jobs.”

The first project set for launch is Sanvira Carbon Sohar Free Zone. It is a partnership between the Oman National Investments Development Company (Tanmia), Sanvira Industries Limited, and United Business Company. The product will be used in aluminum smelters and other mining industries inside and outside Oman.

Oman Flour Mills Company will open two projects. “The first one Gulf International Poultry Farm located in the Al Subaikhi area in the Wilayat of Ibri in the Al Dhahirah Governorate. The project is a partnership between the Omani Food Investment Holding Company (Nitaj), and the Japan-Gulf Food Fund, among others,” as per the statement.

The second project is a grain silo at Suhar Industrial Port. It has a storage capacity of 160,000 tones and provides 54 permanent jobs when fully operational.

According to the statement, “OQ Group will open two projects. The $463 million (RO 178 million) Salalah Ammonia with the capacity to produce ammonia from which fertilizers, cleaning products, refrigerants, and other chemicals can be manufactured. The second is the launch of Bisat A, B, and C in Block 60, which will boost oil production from 5,000 barrels per day to 55,000 barrels per day.”

Oman Oil Marketing Company is launching a bunkering depot at the Port of Duqm. The Oman Power and Water Procurement Company, a subsidiary of Nama Group, will mark the start of a solar farm that will supply renewable electricity to the Al Sharqiya Water Desalination Plant.

Further, Omran Group will mark the launch of the Jumeirah Hotel in Qantab, which has been established with an investment of $156 million (RO 60 million).

“Oman Water and Wastewater Services will open two water supply projects — first, a water pipeline from Suhar in North Al Batinah Governorate to the Wilayat of Ibri in the Dhahirah Governorate; second, a water supply system to the Wilayat of Al Jabal Al Akhdhar in Al Dakhiliyah Governorate,” as per the statement.

Related: AD Ports strikes deal with IDB to enhance trade flows between UAE & Iraq