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18-08-18
Oman's Sohar Aluminum to create USD100m manufacturing plant
(MENAFN) Oman-based Sohar Aluminum and India's Synergies Castings were announced to have formed a partnership for the establishment of a manufacturing plant at USD100 million.
The two companies, under the agreement, are to create a hi-tech alloy wheel manufacturing plant in Oman's Sohar Industrial Estate adjacent to Sohar Aluminium premises.
In a statement, the company announced the construction of the plant to be launched within the next months, while production is to likely begin in 2020.
"A central component of our company's strategy is to promote and support the growth of downstream aluminium industries within the sultanate," as stated Sohar Aluminium CEO Engineer Said Al Masoudi.
The CEO added "with this agreement in place, we will meet our goal of supplying 60 per cent of our hot metal production to downstream partners."
MENAFN1808201800450000ID1097311908
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