SOHAR Port and Freezone has signed a land lease agreement with Starsun Sohar to establish a recycling plant dedicated to the sustainable management of lead-acid batteries in SOHAR Freezone.
Ensuring compliance with environmental standards, this project is set to enhance the recycling industry, highlighting SOHAR Port and Freezone’s dedication to circular economy principles in the Sultanate of Oman.
With a total investment of $3 million and an area of 7000 m2, the recycling plant, furnished with cutting-edge technologies, is focused on recovering valuable materials from locally used batteries, with a projected production capacity of 1000 tons per month, along with exporting lead ingots, lead oxide, and red lead oxide to key markets, including India, China, Korea, and several European countries. These products will be traded on the London Metal Exchange, thereby bolstering global trade capacities.
The agreement between SOHAR Freezone and Starsun Sohar leverages existing industrial activities in SOHAR, transforming waste into resources and fostering a sustainable economic ecosystem.
Commenting on this agreement, Omar bin Mahmood Al Mahrizi, CEO of SOHAR Port and Freezone, said that, “By establishing this new recycling plant, the third in SOHAR Freezone, we are taking a step forward in demonstrating our commitment to circular economy. We are setting a model for sustainable industrial practices, where waste is transformed into valuable resources, thereby fostering a greener, more resilient economic ecosystem. Through strategic industrial synergy, we are harnessing the collective strengths of our partners to drive positive change in the industry, pioneering the transition towards a sustainable greener future.”
“We are excited about this agreement with SOHAR Freezone and the promising opportunities it offers to investors. By leveraging the strategic advantages provided by SOHAR Freezone and its continued growth, this project will create new avenues for economic growth and advance the technology behind lead acid battery recycling,” commented Israil Khan, Chief Managing Director of Starsun Sohar.
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