NEWS

In a high-level inauguration ceremony, three new plants kicked off operations at Salalah Free Zone (SFZ), part of Asyad Group, adding OMR 23.4 million to the existing investments and businesses hosted by the free zone.

Under the patronage of HE Dr. Mahad Said Baowain, Minister of Labor, the inauguration ceremony was attended by HE Dr. Ali Masoud Al Sunaidy, President of the Public Authority for Special Economic Zones and Free Zones, and a host of top government officials.

Salalah Free Zone – operated by Asyad Group – presented an overview of the three high-value ventures, the first being an OMR 9.6 million food processing plant by the Special Integrated Food Company (SIFCO).

The second venture is phase one of Al Namariq Mining Company’s quicklime plant, an OMR 10 million Omani-Iraqi joint investment. The third is an OMR 3.8 million fabric and plastics manufacturing and packaging plant by Apex Transgulf Manufacturing (APEX) that aims to serve local and regional markets targeting various industries including healthcare, food and beverages.

Commenting on the latest investment in Salalah Free Zone, Dr. Ali Mohammed Tabouk, CEO of Salalah Free Zone, stated: “these new additions hosted by our free zone reflect the critical role of SFZ in driving industrial progress and stimulating economic growth in Oman, and capitalizing on logistical synergy with the Port of Salalah to enhance the value chain by linking it to the port’s direct shipping line network and Asyad Group integrated logistics solutions. We are proud of the strategic transnational partnerships that we unveiled today with market players from Yemen, Iraq and Pakistan which will bolster the manufacturing and value-added capabilities in the Sultanate.”

“All three plants are equipped with the latest production technology and hardware that allow them to optimize their production capacities and product quality, while capitalizing on the unique competitive advantages offered by SFZ,” Tabouk added. “Such new ventures enable sustainable development in Oman by enhancing the country’s industrial infrastructure, increasing exports, and boosting trade. We look forward to supporting our partners’ growth and contribution to Oman’s economy.”

In 2023, Salalah Free Zone reeled in around OMR 728 million in investments with SFZ leased plots reaching 1.2 million sqm. Usufruct agreements in the free zone also increased to 129 with total investment exceeding OMR 4.5 billion.

Aligned with Asyad Group and the Public Authority for Special Economic Zones and Free Zones’ investment strategy, this inauguration is further proof of the stakeholders’ commitment to creating an attractive and stable investment environment that unlocks business opportunities and stimulates growth across free zones.

By improving its integrated logistics solutions and land offering, SFZ is becoming a major hub for regional and global businesses to expand into Oman, create distribution centers, and capitalize on the fast, seamless access to the largest consumer markets around the world.