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03-12-14

Oman's Sohar Industrial attracts USD4.53b investments

(MENAFN) Investments in Sohar Industrial Estate is expected to increase further in the coming years after reaching USD4.53 billion, with 239 local projects currently being implemented in the estate, Times of Oman reported.

The Public Establishment for Industrial Estates (PEIE) attributed the significant growth in investments to the efforts undertaken by the organization and its adoption of investment ideas, saying that most of these investments were made in projects related to aluminum, construction, plastic and food industries as well as other areas.

PEIE also said that the strategic location of the Sohar Industrial Estate as being near to Sohar Industrial Port has attracted investments, since the port is expected to contribute in facilitating the import and export processes to and from various countries worldwide, as well as being close to the Gulf Cooperation Council (GCC) markets through a road network.

The establishment said it expects that the demand in investments is expected to increase also due to the fact that the commercial traffic has been transferred from Port Sultan Qaboos to Sohar Port, in addition to the availability of cutting-edge infrastructure and services in the estate.

"Sohar Industrial Estate continues its efforts to attract more investors during the coming period through implementing a number of vital strategic projects aspiring at enhancing the quality of services provided to the investors. Among these projects is the development of the seventh stage on an area touching 8.5 million square metres," PEIE's President said.

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