Sohar International has signed a strategic financing agreement with Oman Minerals Trading Company (OMTC), a subsidiary of Minerals Development Oman (MDO), to support the company’s commercial operations and expansion plans.
Under the agreement, Sohar International has extended a working capital facility of $36.4 million (OMR 14 million) to OMTC.
The financing will support the company’s role in centralizing the trade and export of key minerals, including gypsum and chromite ore, and improve operational efficiency and market access.
OMTC was established to develop the marketing, trading, and export of Oman’s mineral resources in line with the objectives of Oman Vision 2040.
The company plays an important role in strengthening the commercial framework for Oman’s mining sector and supporting the development of mineral value chains.
The financing facility will help OMTC manage working capital requirements, strengthen supply chain operations, and expand its access to international markets.
The agreement also supports efforts to create a more integrated approach to mineral trading and exports in Oman.
Abdulwahid Mohamed Al Murshidi CEO- Sohar International
“Through our partnership with OMTC, we aim to support the development of a more integrated mining ecosystem, enhance the commercial value of Oman’s mineral resources, strengthen supply chains, and facilitate greater access to international markets. This collaboration further underscores our commitment to supporting high-impact investments and sustainable projects that contribute to economic growth, enhance the investment landscape, and reinforce Oman’s position as a regional hub for industry, trade, and logistics.”
Speaking on the partnership, Maan Al Salmi, Managing Director of Oman Minerals Trading Company, commented that, “Our partnership with Sohar International provides the financial foundation to support our commercial operations and growth plans. This collaboration will enable us to strengthen our trading capabilities, maximising the economic value of the Omanis’ minerals, exploring new strategic markets, and attracting foreign investment that is associated with the gypsum and chromite value chain to the Sultanate of Oman.”
As a subsidiary of Minerals Development Oman, OMTC is responsible for advancing the marketing, promotion, and export of the Sultanate’s mineral wealth.
The agreement underscores the contribution of the mining sector to Oman’s economic diversification efforts.
The partnership also highlights the role of collaboration between financial institutions and industrial companies in supporting the development of high-potential sectors.
