Oman Signs 28 Zone Deals Worth $790 Million

FTZ News: Oman has signed 28 investment agreements that total more than 304 million Omani rials, or about $790 million, for projects and expansions in its industrial cities, special economic zones and free zones.

The biggest slice, roughly 147.5 million rials, is headed to industrial cities that cover more than 756,000 square meters. That includes a steel products plant in Sohar valued at more than 112 million rials, according to the Oman News Agency.

The rest of the money is split across several zones. Sohar Free Zone is set to receive 58.5 million rials. Duqm Special Economic Zone is getting 55.08 million. Salalah Free Zone will take 32.95 million, and Khazaen Economic City is in line for more than 10.4 million.

The deals arrive as Oman carries out its 11th Five-Year Development Plan for 2026-2030. The plan calls for more private investment and a larger non-oil economy. Manufacturing is listed as a growth area, with a target of 5.9 percent annual expansion. Food security and transport and logistics are also on the list.

Qais bin Mohammed Al-Yousef, chairman of the Public Authority for Special Economic Zones and Free Zones, said the agreements are part of the authority’s push to bring in investments and add specialized industrial projects in the zones./.