Investments in Suhar Industrial City reach OMR 2.3 billion

MUSCAT: On the occasion of the 30th anniversary of the Suhar Industrial City, the Public Establishment for Industrial Estates – Madayn, organised an event under the auspices of H.E. Dr. Ali bin Masoud Al-Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), to highlight the City’s sustainable industrial growth in the last three decades.

H.E. Dr. Saleh bin Saeed Musan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry and Chairman of the Board of Directors of Madayn, stressed that the focus, in the coming period, will be on establishing specialized industrial complexes, and introducing technologies of the fourth industrial revolution in the existing factories.

Hamad bin Hamoud Al Qasabi, Acting CEO of the Public Establishment for Industrial Estates, explained that the celebration comes within the strategies of the Sultanate of Oman to support economic diversification and stimulate investment in the industrial city. He added that Madayn worked with its partners to launch a complex for plastic industries, which will be implemented in Suhar Industrial City on an area of one million square meters.

With regard to providing alternative energy solutions, he confirmed that the organisation has worked for more than two years with all partners to obtain a license to provide alternative energy solutions, indicating that all procedures have been completed to localize the first solar farm in Suhar Industrial City on an area of more than two million square meters, This will help provide a mix of electric energy that contributes to reducing emissions resulting from electric power generation by traditional methods, and providing energy at reasonable prices for existing industries in the City.
The ceremony witnessed the signing of a usufruct agreement between Madayn and the solar energy Company, Solar Wadi, to allocate land for the solar power plant project in Suhar Industrial City, as the first station in Madayn’s industrial cities.

In line with the sustainability goals of Madayn 2040 vision, the station aims to provide the cost of electricity for tenants in Suhar Industrial City as an initial step, while attracting new investors, and increasing the competitiveness of all companies within the industrial cities in Madayn and free zones.

The post Investments in Suhar Industrial City reach OMR 2.3 billion appeared first on The Arabian Stories News.

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