Madayn inaugurates Phase I of OMR9mn Ibri Industrial City

Oman Sunday 25/February/2024 19:08 PM
Madayn inaugurates Phase I of OMR9mn Ibri Industrial City

Ibri: Marking a strategic continuation of the Omani government’s goal to ensure balanced economic growth across the governorates, the Public Establishment for Industrial Estates (Madayn) celebrated on Sunday the inauguration of Phase I of Ibri Industrial City.

The inauguration ceremony was held under the auspices of Najeeb Ali Al Rawas, Governor of Al Dhahirah.

Highlighting the significance of developing an industrial hub in Al Dhahirah Governorate, Al Rawas said, “Aligned with the core objectives outlined in Oman Vision 2040, this project aims to present a dynamic and competitive investment landscape that appeals to both local and foreign investors. The introduction of an industrial city in Al Dhahirah Governorate is poised to catalyse a significant qualitative leap in manufacturing industries and commercial activities.”

“These activities will contribute to generating job opportunities, encourage exports and the establishment of export industries, while also stimulating economic sectors such as transportation and banking,” Al Rawas further added.

Speaking at the inaugural ceremony of Ibri Industrial City infrastructure project (Phase One), Salah Nasser Al Alawi, Director General of Ibri Industrial City, said, “The industrial city spans an extensive area of 10 million square metres, with Phase One successfully completed at a cost of OMR9 million, covering 3 million sqm. The presence of a fully-equipped industrial city will serve as a pivotal factor in driving development and fostering an ideal environment for the private sector to engage in a diverse range of industrial, commercial and service activities.”

Al Alawi further highlighted the commitment of Madayn to promote investment in Ibri Industrial City through the introduction of a comprehensive incentive package.

“These incentives resulted in a notable increase in investor interest, with 10 projects now underway in Ibri Industrial City, boasting an initial investment totalling OMR6.5 million. Several of these projects have already commenced construction and development activities,” Al Alawi noted.

Ahmed Mohammed Al Farsi, Director of Projects at Madayn’s Directorate General of Facilities and Infrastructure, stated that Phase One of the development project of Ibri Industrial City, includes the construction of roads, truck parking zone, water network and water tank, firefighting network, sewage networks and collection tank, dyke for protection against rainwater, and security system with surveillance cameras.

Al Farsi elaborated on the completed phase featuring the construction of 17.8 km of road network and a 24.7-km water network.

Dr. Said Khalifa Al Quraini, Director General of Investment Development at the Public Authority for Special Economic Zones and Free Zones (Opaz), highlighted the Authority’s commitment to two core functions: ‘Planning and development’ and ‘regulation and supervision.’

Al Quraini affirmed that Opaz is dedicated to streamlining procedures for investors and providing robust after-service support to promote business continuity and growth. “Opaz collaborates with key stakeholders to promote and attract investments, aiming to enhance the added value of targeted sectors and expedite economic progress in Duqm while actively getting engaged in accelerating the implementation of development plans in various governorates to boost the country’s competitive advantage,” Al Quraini said. 

Meanwhile, Zakiya Mohammed Al Balushi, Director of Planning and Studies at Opaz, delivered a presentation on the Economic Zone Project at A’Dhahirah Governorate. She added that the economic zone is geared up to undertake an instrumental role in facilitating cross-border trade and investment.

Further, four investment contracts worth OMR7 million were signed during the ceremony to establish a factory specialised in the oil and gas industry, a food industry factory (roasted coffee) a manufacturing factory (coal and its derivatives) and a light industries (cardboard) project.

Moreover, the ceremony came within the framework of the Secretariat General of National Celebrations (SGNC) programme to inaugurate key national projects.