The Oman Investment Authority (OIA) announced 10 national projects distributed geographically across all governorates and in various sectors, through its subsidiaries, and in partnership with local and foreign companies.
It is understood that the total investment value of the projects exceeds RO750mn.
Hisham bin Ahmed Al Sheedi, the Director-General of Economic Diversification Investments at the Oman Investment Authority, said that these projects aim to contribute to efforts aimed at economic diversification, developing governorates, attracting investments, empowering the private sector, and creating job opportunities for citizens that exceed 860 direct and indirect jobs.
In a statement to the Oman News Agency, he added that the ten projects embody the OIA’s strategy and objectives that are in line with Oman Vision 2040, wherein the organisation plays a role in promoting the targeted economic sectors by implementing large projects in partnership with the private sector across governorates in the Sultanate.
Al Sheedi further pointed out that the projects aim to form a competitive business environment and attractive investment while having economic and social dimensions, and serving the Sultanate’s orientation towards the localisation of national expertise and competencies.
These projects come within the (National Development Portfolio) of the Oman Investment Authority, which manages assets and over 160 companies and aims to contribute to the growth and development of the Omani economy in addition to supporting the state’s general budget.
Hilal Al-Shidi from the OIA said that the growth plan of the organisation is based on eight priorities: financial sustainability, growth in selected sectors, contribution to the gross domestic product, attracting private investors, exit (divestment), contributing to in-country value (ICV), synergy and integration between companies, and implementing governance and transparency structures.
Sanvira Carbon Project
The opening of the aforementioned ten projects will begin with the Sanvira Carbon Project in the Sohar Free Zone, which is a partnership between the Oman National Investments Development Company (Tanmia), Sanvira Industries Limited and United Business Company. The byproduct will be used in aluminium smelters and other mining industries inside and outside the Sultanate.
The ‘Sanvira Carbon’ project, with an investment cost of more than RO60mn, will contribute to diversifying Omani industries, enhance their presence in the local market and reduce reliance on imports, while exporting approximately 70 per cent of calcined petroleum coal to contribute to the foreign exchange reserves of Oman, in addition to providing 150 job opportunities for citizens.
Oman Flour Mills
Oman Flour Mills Company will also open two projects under their renewed diversification vision.
The first is the Gulf International Poultry Farm located in the Al-Subaikhi area in the Wilayat of Ibri in the Al-Dhahirah Governorate, which comes in partnership with the Omani Food Investment Holding Company (Nitaj), the Gulf Japan Food Fund (GJFF), the Japan-based ‘Wise Foods’ company and ‘IFFCO’ company.
The farm, whose value exceeds RO26mn, is located on an area of 18mn sq.m and is one of the largest egg farms among all GCC countries. It has the capacity to produce 360mn eggs annually and includes modern and advanced equipment while employing 160 people.
The second project is the ‘Grain Storage Silos’ in Sohar Industrial Port, which was implemented at a value of RO21mn. The project supports the food security strategy in the Sultanate. It has a storage capacity of 160,000 tonnes and provides 54 permanent jobs when fully operational.
Energy & Ammonia Byproducts
Meanwhile, Okio Group will open two projects. The first Salalah Ammonia project comes at a cost of RO178mn, provides 50 direct jobs, and aims to produce 1,000 tonnes of ammonia that can be converted to fertilizers, cleaning products, refrigerants and other chemicals that can then be exported through the Port of Salalah.
The second project is the Magta A, B & C concession areas in Block 60, which costs RO157mn and provides jobs for 46 graduates. It is one of the largest projects envisioned within the Sultanate and aims to raise production by three times from 5,000 barrels per day to about 55,000 barrels per day.
Water Supply
The Omani Water and Wastewater Management Company will open two water supply projects from Sohar in the North Al Batinah Governorate to the Wilayat of Ibri in the Dhahirah Governorate, and another water supply system to the Wilayat of Jabal Al Akhdar in Al Dakhiliyah Governorate.
Sea Port
Oman Oil Marketing Company (OOMCO) is working on the new shipping fuelling station and bunker fuel depot set up at the Special Economic Zone at Duqm. When implemented, the project aims to enhance the viability and business attractiveness at the port.
The project, with a cost of RO11mn, will attract ships to stop and avail services from the port. The project will provide more than 45 direct and indirect jobs.
Sustainable Desalination Project
The Oman Power and Water Procurement Company (OPWP), a subsidiary of Nama Group, is partnering with the Al Asilah Desalination Company in their Al Sharqiyah Water Desalination Plant project in the Asilah area in the Wilayat of Jalan Bani Bu Ali in the Governorate of South Al Sharqiyah.
This includes a solar energy plant for use in desalinating sea water, with a production capacity of 80,000 cubic meters per day.
Hospitality
The Jumeirah Hotel project in Qantab in the Governorate of Muscat is one of the projects within the umbrella of OMRAN Group. The project cost RO60mn and provides 260 jobs. The hotel comes with its own health club (spa), fitness and entertainment centre, multi-purpose hall, and diving centre.
