NOVEMBER 11, 2023
Total investments in Khazaen climb to RO 323m by Q3 end
MUSCAT: Khazaen Economic City continues to invest in infrastructure and services to enhance its appeal to local and international investors, according to Eng Salim bin Sulaiman al Thuhli, CEO.
In a statement to ONA, Al Thuhli said the hub has been able to attract a large number of local and foreign investments in key sectors such as the logistics, industrial, food, pharmaceutical and clean energy sectors.
By the end of Q3 2023, Khazaen had pulled in RO 323 million worth of investments (approx. $840m). As many as 110 projects promoted by investors from 17 different countries are in various stages of development and operation. Thirty of these ventures are under construction, he said.
Twenty of the projects pertain to the logistics sector. Worth RO 65 million in investments, the most notable are Khazaen Dry Port, the logistics centre of the Qatari Gulf Warehousing Company, the logistics facility of Naqel Express of Saudi Arabia, and a similar facility of Qatari SARCO. Additionally, Omani logistics company Nol is launching a similar facility, while National Gas Company is establishing the first integrated truck rest station in Oman, with an investment value of RO 2.7 million.
Work is also progressing on the Khazaen Central Market for vegetables and fruits. Already about 85 per cent complete, the facility is slated to open during Q2 2024, he said.
Also making headway is Khazaen’s first integrated Workers’ Village, offering around 2,500 beds for workers, 300 rooms for employees, and cafeteria, entertainment, health centre, and shopping services. The project, costing around RO 12 million, will launch around the middle of next year.
In the Food Cluster of Khazaen, projects under development include a frozen bakery products factory of Salalah Mills, a beverages plant of Crystal Barka Carbonated Water Factory, the Yasmina Al Sharq Food Manufacturing Complex, and Al Safwa Factory for Hospitality and Packaging Services. In all, 15 projects of a total value of RO 85 million are under development in the Food Cluster.