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Maqbool (right) and Sangolli

Maqbool (right) and Sangolli



Indian firm to invest in Sohar

01 July 2008

An India-based firm intends investing around $130 million during the next couple of years for the construction of a downstream aluminium manufacturing plant in the Port of Sohar.
Multinational company Zoom Developers said it chose the Port of Sohar because of its strategic location amongst other reasons.

The company expects to employ approximately 750 employees of which 500 will be Omanis.
As part of its Sohar plans, Zoom Developers signed a land lease agreement with the Sohar Industrial Port Company (SIPC).
The agreement was signed by the Omani Minister of Commerce and Industry and chairman of the SIPC board, Maqbool bin Ali Sultan, and the COO of Zoom Developers, Ashok Sangolli.
The Port of Sohar being an international port offers Zoom Developers access to the facilities needed as well as good connections to the emerging markets of India and Africa. The port is managed by SIPC which is the port authority and is a 50/50 joint venture between the Government of Oman and the Port of Rotterdam. An extension to the concession agreement between the two parties was signed in 2007 whereby the concession period was extended and now covers a period from 2003 till 2043.
Zoom Developers is one of fastest growing business groups in India, with a well-established foothold in various business areas and is represented in many countries around the world. It has its corporate office in Mumbai, India.




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