Deals worth $40m signed for Salalah Free Zone projects in Oman
The free zone also celebrated the laying of the foundation stone for a plant that will produce 25 tons per annum of curcumin and basic oil extracted from turmeric
Investment agreements amounting to $40m (OMR15.4m) have been signed for manufacturing projects in Oman’s Salalah Free Zone (SFZ).
The agreements, signed by SFZ chief executive officer Eng Awadh bin Salem Al-Shanfri, included the development of a plant for polyester granules and packing bags. The project is valued at $25m (OMR9.6m).
An agreement worth $10m (OMR3.9m) was also inked with Oman Pens and Paper Manufacturing Co for the construction of a pen manufacturing plant in the free zone.
A $5m (OMR1.9m) deal, meanwhile, was signed with Gulf Technology Industries for the development of a plant for packaging and wrapping products.
In addition to the signing of the agreements, the free zone celebrated yesterday the laying of the foundation stone for a plant that will produce 25 tons per annum of curcumin and basic oil extracted from turmeric, Oman News Agency (ONA) reported.
The plant is owned by Fortune Bio Organic, whose chairman, Alok Agrawal, relayed during the event the company’s interest in investing in other production lines.