Volume of total investments in Madayn’s various industrial cities increases by 3.63 per cent

Volume of total investments in Madayn’s various industrial cities increases by 3.63 per cent

Investments in Oman industrial cities up

August 2019

The total cumulative investments in various industrial cities in Oman has touched RO6.57 billion ($17.08 billion) by the end of 2018, according to a statement issued by the Public Establishment for Industrial Estates (Madayn).

“The cumulative value of investments in the various industrial cities has touched around RO6.57 billion by the end of 2018, noting an increase of RO230 million compared to 2017,” Hilal bin Hamad Al Hasani, chief executive officer (CEO) of Madayn said.

During the same period, the number of workforce employed in these various industrial cities also rose to 60,070 with an Omanisation level touching 35 per cent, said the statement.

Al Hasani

Al Hasani

According to Madayn, the total number of investment projects in various phases of developments across the sultanate in 2018 stood at 2,211. Out of these 2,211 investment projects, more than 1,500 are currently operating, and another 291 projects are under construction.

Besides this, spaces have been allotted for another 401 projects across the country in various industrial cities. The utilisation rate of the total space allotted for industrial cities touched 53 per cent mark last year.

Al Hasani informed that a total of 256 projects in their various phases have been localised in 2018, and around 509,000 sq m of Madayn lands have been leased to the investors. In addition, 5264 job opportunities were provided in Madayn’s different industrial cities with growth rate touching 10 per cent.

‘For the tenth year in a row and despite the economic status and variables at local, regional and global levels, Madayn has witnessed an important growth,” said Al Hasani.

He said that Oman Investment and Development Holding Company (Mubadrah) has recently set up Al Rusayl Industrial City Company, which has already commenced its operations and is also working in the direction to establish a marketing company.

On future projects, Al Hasani said that Mubadrah is also preparing to float a tender of B2 Phase to expand the Rusayl Industrial City. The value of this tender is expected to be around RO15mn.

“Mubadrah is undertaking efforts to attract international developers and operators in accordance with best practices for the development of industrial cities. What’s more, the role of Madayn will be linked to regulation and monitoring aspects,” Hasani said.

Additionally, the properties of Shumookh Investment and Services, Shumookh Plastic Products and Industrial Innovation Centre, and the shares of Infoline Company, Majis Industrial Services, and Port of Salalah Development Company have been transferred from Madayn to Mubadrah.

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