Oman signs 28 investment agreements worth over 790 mln USD

MUSCAT, Oct. 28 (Xinhua) -- Oman signed 28 investment agreements worth more than 304 million Omani rials (about 790 million U.S. dollars) here on Wednesday to develop projects and expand existing facilities in special economic zones, free zones and industrial cities across the country.

According to the Public Authority for Special Economic Zones and Free Zones (OPAZ), the agreements cover an area of more than 2 square kms and involve projects in manufacturing, food processing, logistics and commercial activities.

The investments are distributed across several locations, including the Special Economic Zone at Duqm, Sohar Freezone, Salalah Free Zone, Khazaen Economic City and industrial cities in Sohar, Raysut, Ibri and Nizwa.

Among the major projects are an iron and steel products plant in Sohar Industrial City with an investment exceeding 112 million rials, an automotive assembly industrial complex in Sohar Freezone worth 38 million rials, and a shrimp feed production facility in Duqm valued at 40 million rials.

Qais bin Mohammed Al Yousef, chairman of OPAZ, said the agreements were part of efforts to attract high-quality investment, strengthen specialized industries, create job opportunities and support Oman's economic diversification efforts under its Vision 2040 development plan.