OIA announces 10 national projects with investment of +OMR…

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.