The Public Establishment for Industrial Estates (Madayn) unveiled development opportunities in Industrial Cities by launching the ‘Madayn Investment Complexes’ Project to woo foreign and local investors for doing business in Oman. This investment complex project will provide an ideal opportunity for local and foreign companies to invest in the industrial and other associated sectors.
‘Madayn Investment Complexes’ project shall provide companies with the opportunities to develop specialised investment complexes through their real estate plans once the designs are approved by Madayn. The CEO of Madayn, Hilal bin Hamad al Hasani, commented.
“The developing companies will then promote the industrial and investment units with the facilities for the local and foreign companies to buy or rent these units for immediate operation, following the installation of production lines of the tenant or owner,” Hasani said in a statement on 18th December 2021 Saturday.
The new project will announce the development opportunities for ten investment complexes in four industrial cities namely Suhar, Al Buraimi, Samail, and Sur industrial in various sectors. The project activities of the investment complexes will represent a variety of industries such as food, plastic, and logistics etc.
The CEO of Madayn highlighted saying, “These investment complexes shall support the industrial integration between small and large factories and contribute to encouraging local and foreign investments towards the complementary industries. This project shall also offer an opportunity for SMEs to enter the industrial sector through these investment complexes. The SMEs will be able to buy or lease real estate units with small areas that are compatible with their operational and production capacity.”
New Industrial Cities
Hasani, the CEO of Madayn described in detail the execution status of new industrial cities announced earlier. He highlighted that the project of establishing Thumrait Industrial City is in the final stage of infrastructure designing and the process of identifying available investment opportunities for the private sector and updating the economic analysis is ongoing. Madayn informed that a professional and specialized consultant conducted an environmental study and the necessary environmental clearance has already been obtained from the relevant regulatory body.
Mining industries primarily associated with gypsum and limestone industries will be the main focus in Thumrait industrial city. This city shall be a business destination for light industries as well, especially those involved in building materials business like cement products. Besides, this industrial city will accommodate various support services including a fuel station, truck weighing facilities, vehicle maintenance workshops, cold and dry storage facilities etc.
On the executive status of Ibri Industrial City, Hasani remarked that the infrastructure works of Phase 1 are currently being undertaken by Madayn for developing an area of about 3 million sqm at a cost of almost RO 9 million. He also added that the final delivery of the infrastructure project would be by the middle of 2023 and a tender is being floated for developing a one-stop shopping facility and comprising a fuel station, hotel, public amenities, restaurants, and auto care services.
On Mahas Industrial City, the CEO noted that the administrative work has already begun in early October this year for offering services to the local factories. Awarding the contract for road and infrastructure development is in the final stage and for an area of 1 million sqm at an approximate cost of RO6 million.
A tender for consultancy services has already been floated for Al Mudhaibi Industrial City for detailed designing of two areas, 14million sqm and 2million sqm respectively, Madayn CEO added, planning of multiple warehouses and identifying 15 potentially viable investment opportunities based on available natural resources. Identification and allocation of sectors such as industrial, commercial, food, tourism, construction etc. are also in the scope of the tender.
Madayn has been actively contributing to the economic development of Oman for many years and the current investment complexes project aims at attracting more investment to the industrial cities through company formation in Oman.
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