Madayn signs deal to develop phase 2 of Raysut Industrial City
The Public Establishment for Industrial Estates (Madayn) Tuesday signed an agreement with Al Hashemi and Al Rawas Trading and Contracting Co to implement the infrastructure development project for Raysut Industrial City (Raysut 2) at a total cost of RO4mn for an area of 1mn square meters.
The agreement was signed by H E Eng Ahmed bin Hassan al Dheeb, chairman of Madayn’s board of directors, and Salah Salem bin Mohiyaddin bin Saif, CEO of Al Hashemi and Al Rawas Trading and Contracting Co, according to a press release.
H E Dheeb said that the agreement of Raysut Industrial City expansion comes as result of the industrial sector’s requirements in Dhofar governorate and the constant demand by the investors to localise more projects in Raysut Industrial City.
“This agreement shall provide new infrastructure services and develop the existing ones. All the industrial cities that fall under the umbrella of Madayn are receiving great demands due to their strategic locations across the sultanate, which eventually stimulate investment and business development,” he said.
Under the new investment regulations of Madayn, the managements of the industrial cities in the various governorates of the sultanate have been granted with the authority to approve investment applications of up to 100,000sqm.