Oranss Technology Company and Mobel Polymers, a Chemicals factory company based in Egypt, have signed an agreement to establish polymer products manufacturing factory in Samail Industrial City in Oman, with an initial investment value of $7 million.
The signing ceremony, attended by Eng. Dawood bin Salim Al Hadabi, CEO of the Public Establishment for Industrial Estates “Madayn”, took place on the sidelines of the two companies’ participation at the ongoing Home and Building Expo at Oman Convention and Exhibition Centre.
The agreement was signed by Ms. Sharifa Al Naamani, Chairperson of Oranss Technology Board of Directors, and Dr. Hany Makary, Chairman of Mobel Polymers Board of Directors. Commenting on this agreement, Ms. Al Naamani pointed out that the factory’s output will serve as a pivotal source of raw materials for various manufacturing sectors within the Sultanate, which were previously reliant on imports, thereby catalyzing the growth of Omani industries.
Ms. Al Naamani said that “The partnership forged between Oranss Technology and Mobel Polymers represents the strong bond between the Sultanate and Egypt, encouraging innovation, economic growth, and international cooperation.”
Ms. Al Naamani underscored the company’s vision, which aims at boosting the Sultanate’s industrial sector, exploring new opportunities for Omani investors, attracting international expertise for knowledge exchange, and developing a highly skilled Omani workforce.