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Logistic, industrial and mineral projects.

Location : Sohar Free zone, Oman

Details : About 6 to 7 companies have committed to invest in Sohar Free Zone, most of which are foreign investments, with a total investment value of $60 to $65 million.

There will be an agreement with two of these investors for exploiting 800,000 sqm. Most of the projects are logistics, industrial and mineral projects in the oil and gas sector.

Sohar Free Zone mainly aims at attracting small and medium enterprises (SMEs) to invest in the projects that depend on lower energy resources than the huge projects currently existing in Sohar.

Sohar Free Zone is considered an extension to Sohar Industrial Port estate as the new projects can benefit from the available infrastructure in Sohar whether in Sohar Port, handling terminals or the electricity and water services, as well as, benefiting form Sohar airport, railways and highways in the future.

Sohar Free Zone Company is a limited-liability establishment that runs Sohar Free Zone, with plans to invest in infrastructure in the zone. Sources indicate investment for implementation of the first phase of the infrastructure worth RO25 million.

The development of the free zone infrastructure in the first phase includes four stages that will complete by 2014 with investment of RO1 million till now for implementing the preparatory works, leveling of the ground, etc. The tender for the first part of the construction works for road and water drainage channels will be awarded next May.

The first phase area was planned on three main sections, namely, storage complexes, logistic services, industrial projects and petrochemical transformational industries and mineral projects; to the finalization of the free zone systems and regulations that include simplification of the customs, administrative and financial procedures which are underway. The free zone will be ready for attracting secondary industries that serve the major industrial projects in Sohar Port.

Contact Details:

Sohar Industrial Port Company & SIDC

PO Box 9, PC 327, Sohar, Oman

Phone: +968 26852700 Fax: +968 26852701

Email: info@portofsohar.com

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Publication:Saudi Economic Survey
Geographic Code:7OMAN
Date:Mar 23, 2011
Words:344
Previous Article:Energy and minerals reserves security.
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