2022-11-12

Marking the 52nd National Day OIA Announces 10 National Projects with an Investment Value of +OMR 750 Million

Hisham Al-Sheedi: These projects seek to develop governorates, with many economic and social dimensions

12 November 2022: Marking the 52nd National Day, Oman Investment Authority (OIA) announced the beginning of the inauguration of 10 national projects distributed geographically in a number of governorates across different sectors, with an investment value of +OMR 750 million. The projects are in partnership with OIA Companies and a number of national and international partners. They aim to contribute to the efforts of enhancing economic diversification, developing governorates, attracting investments, empowering the private sector, and creating more than 860 direct and indirect job opportunities for Omanis.

Hisham Al-Sheedi, Director - Economic Diversification Investments at OIA, said that the ten projects reflect OIA’s strategy and goals that align with Oman’s Vision 2040. OIA performs its role in developing targeted economic sectors by implementing large projects in partnership with the private sector across Oman’s governorates. These projects are competitive and attractive to investors, have many economic and social effects, and serve the national targets with regard to Omanization.

The inauguration of these ten projects will commence with Sanvira Carbon (SFZ), a joint venture between TANMIA, Sanvira Industries, and United Business Trading which targets the establishment of a petroleum coke calcining facility in Sohar Freezone. The project will have a production capacity of 500,000 tonnes of calcined petroleum coke annually in the first phase. This product will be utilized in aluminum manufacturing and other extractive industries inside and outside Oman. The project, with an investment value of +OMR 60 million, will contribute to diversifying Omani industries and enhancing their presence in the local market to replace imported industries, in addition to exporting ~70% of calcined petroleum coke to contribute to the Sultanate's foreign exchange reserves, as well as creating 150 job opportunities for Omanis.

Oman Flour Mills Company, will launch two projects in collaboration with OIA Company Oman Food Investment Holding Company (NITAJ). The first project is the Gulf International Poultry Farm in Ibri, Al Dhahirah Governorate. It is established in partnership with the Gulf Japan Food Fund, Japanese Ice Foods Company, and IFFCO. The farm, worth +OMR 26 million, occupies an area of 18 million m2. It is considered one of the largest egg farms in the GCC, with a production capacity of up to 360 million eggs annually. It uses modern and advanced equipment and employs 160 people. The second project is the ‘Grain Storage Silos,’ with a value of OMR 21 million. Located in Sohar Industrial Port, it supports the Sultanate’s food security strategy with a storage capacity of up to 160,000 tonnes. The project will create 54 permanent jobs when fully operational.

From its side, OQ is launching two projects. The first is ‘Salalah Ammonia,’ worth OMR 178 million. It targets the daily production of 1000 tonnes of ammonia which will be used for manufacturing fertilizers, detergents, refrigeration equipment, and other chemical products that will be exported through Salalah Port. This project will create 50 direct jobs. The second project, ' Bissat A, B & C,’ is worth OMR 157 million and located on the Concession Area Block 60, in Al Wusta. It is one of the key projects as it created 46 jobs for graduates and contributed to tripling production from 5,000 bpd to ~55,000 bpd.

Oman Water & Wastewater Services Company is launching two projects for supplying water from Sohar in Al-Batinah North to Ibri in Ad Dhahirah and for supplying water to Jebel Akhdar in Ad Dakhiliyah. The value of both projects is +OMR 177 million, and they created 80 direct jobs and other indirect jobs related to home connections.

The Boat Refueling Station and Tank Farm project implemented by Oman Oil Marketing Company is the first boat tank farm in the Special Economic Zone at Duqm. It aims to promote the position of Duqm Port among the international ports. The project, worth OMR 11 million, will attract ships to stop and receive services from the port. Moreover, it will create +45 direct and indirect jobs.

Oman Power and Water Procurement Company (OPWP), a subsidiary of OIA company Nama, is partnering with Al Asilah Desalination Company for ‘Ash Sharqiyah Water Desalination Plant’ project in Jalan Bani Bu Ali, Ash Sharqiyah South. This joint venture is worth +OMR 60 million. The project, which created 20 jobs, is the first project in the Sultanate of Oman with a solar power plant that generates power for the desalination of seawater, with a capacity of 80,000 m3 per day.

Jumeirah Hotel in Qantab, is one of the projects that Omran Group is working on. It created 260 direct jobs and has a value of up to ~OMR 60 million. It offers 206 spacious rooms and suites, summer houses, and luxurious villas that provide visitors with an authentic hospitality experience that combines adventure and comfort, a health club (spa), a fitness and entertainment center, a multi-purpose hall, and a diving center.

The ten projects are part of OIA’s National Development Portfolio, which manages +160 local assets and companies. The portfolio, aiming to contribute to the growth and development of the Omani economy and support the General State Budget, has eight priorities: Financial sustainability, selective growth, contribution to GDP, attracting investors, divestment, contribution to ICV, synergies, and governance implementation.