Oman’s Public Establishment for Industrial Estates (Madayn) and its investment arm Shumookh Investment and Services have signed a cooperation agreement with Advanced Universal Tech to establish Oman Nano City in Sur Industrial City.

The project aims at implementing, developing and managing a city that promotes nanotechnology in the sultanate as well as attracting industries and investments and providing support to investors through regional and international competitive strategies.

Oman Nano City project aspires eventually to diversify income sources, attract foreign investment, create new jobs, and support innovation and entrepreneurship community, said a statement.

The agreement was signed by Hilal bin Hamad Al Hasani, CEO of Madayn; Eng Musallam bin Juma’a Al Hudaifi, CEO of Shumookh Investment and Services; and Eng Qasim bin Habib Al Lawati, Partner and Founder of Advanced Universal Tech.

Al Hasani emphasised that this agreement aims at establishing an incubator for nanotechnology in the sultanate supported with quality infrastructure and excellent services through forming teams of experts and providing continued support for the project.

“Oman Nano City will contribute in developing the manufacturing sector, creating links between industries, universities, colleges, schools and research institutions, and providing on job training opportunities,” Al Hasani said.

Oman Nano City also aims at supporting innovation in the sultanate through transforming laboratory research into new products, as innovations give manufacturers the performance or cost edge they need to compete in international marketplace, which will consequently allow to achieve Madayn’s objectives in introducing advanced technologies, equipping the workforce with necessary technical skills to boost productivity, and creating new job opportunities for the national cadres.

Eng Qasim Al Lawati stated that Oman Nano City aims at contributing to the sustainability and support of the national economy, as the project comes in line with Oman Vision 2040. “Oman Nano City will be built on a total area of 1 sq km to act as an incubator for innovations and industries related to nanotechnology. The project will be equipped with a main administration centre in addition to various public facilities such as a hotel, cultural centre, business centre, banks, shopping centres, clinics, logistics services, and a residential area equipped with quality services for the workforce based in factories,” Al Lawati said, adding: “Oman Nano City will be designed to comprise 11 sectors and feature teams that represent bodies from the business sectors, high education and research fields, and industrialists.”