Cumulative investments in industrial cities touch RO6.57bn in 2018

July 27, 2019

The total cumulative investments in various industrial cities in Oman has touched RO6.57bn by the end of 2018, the Public Establishment for Industrial Estates (Madayn) said in a press statement on Saturday.

‘The cumulative value of investments in the various industrial cities has touched around RO6.57bn by the end of 2018, noting an increase of RO230mn compared to 2017,’ the statement revealed.

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.

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.

“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 Hilal bin Hamad al Hasani, CEO of Madayn.

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, 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.

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