In Celebration of the 51th National Day OIA Announces the Launch of 13 New National Projects
Oman Investment Authority (OIA) has unveiled the rollout of thirteen national projects through its affiliated companies to coincide with the celebrations of Oman’s 51th National Day, valued approximately at OMR 3.5 billion. The projects cover a number of key sectors including energy, logistics, food security, manufacturing, mining, health and tourism services.
Mr. Nasser bin Sulaiman Al Harthi, Acting Vice Chairman of OIA said that the 13 projects underscore the strategy and objectives of the organization which are aligned with Oman’s Vision 2040. He noted that they add to the efforts towards the diversification of the national economy, help to attract investments and further enhance the participation of the private sector through partnerships with OIA. This will assist in the creation of job opportunities for citizens and the achievement of fiscal sustainability. He further added that the projects cover all governorates of the Sultanate and serve as a critical indicator that the national economy is recovering post COVID-19 pandemic and underlines the rapid growth witnessed in all sectors.
The projects included Liwa Plastic Industries Complex at Sohar Port which will deploy the latest technologies. It comprises of a gas extraction plant, a steam cracker plant and polymer plants which will fill the gap in the growing global demand for such products. On the other hand, the Liquefied Petroleum Gas Project in Salalah aims at optimizing added value from Oman gas by transforming it into qualified petroleum gas products. So far, the project has successfully produced and exported three commercial shipments of propane, butane and condensates while sustains supplies to the local truck loading facilities and thereby support the community with essential services.
The Petroleum Coke project in Sohar Free Zone stand at an annual production capacity of 500,000 tons and is expected to increase during the upcoming stages. The project also delivers 24 megawatt of electricity as a byproduct and hence enhances the supply chains of the aluminum and petrochemicals sectors with a potential for increased integration to achieve the desired local added value. Ibri Solar Power Plant is birthed out of Oman Vision 2040 which encourages the use of renewable energy to meet local demand for electricity.
Al Morooj Dairy project, the first project of its kind in the Sultanate of Oman and the GCC region is established to achieve food security and self-sufficiency. It targets camel and cattle breeders in Dhofar and Al Wusta Governorates and involves a range of social and economic dimensions including boosting the income of camel breeders by the direct purchase of their milk products, creation of new job opportunities and supporting the SMEs operating in this industry.
Al Bashayer Meat project, an integrated livestock breeding, fattening and slaughtering facility including cows, sheep, goats and camels in state-of-the-art slaughterhouse. The meat is processed in a highly sanitized modern processing plant comprising a veterinary clinic, natural fodder farm and three meat processing, packaging and sales centers.