OMAN – The Omani- Saudi joint venture has announced plans to establish seven food and drink factories in the Khazaen Economic City, a world-class integrated economic city located in the Sultanate of Oman.
According to reports by local dailies, The Omani-Saudi joint venture which is made up of United Vision for Investment and Development and Al Maha Food Industries signed three tenancy agreements with authorities of the Khazaen Economic City.
The three tenancy agreements are reported to be valued at nearly OMR 3 million (approximately US$7.8 million) and include nearly about 27,000 square-metres to United Vision for Investment and Development and Al Maha Food Industries.
The seven manufacturing units will feature the production of tomato ketchup and baby related products, as well as a sweets factory.
Other factories in the seven will manufacture water bottles, ice production, bottling drinking water, in addition to a factory for plastic related products.
Khazaen Economic City where the factories will be located will is the largest public and private partnership (PPP) land development project in the Sultanate of Oman.
The integrated economic city being developed over 51.6 million square-metres in Oman brings together a broad range of logistics, light industrial and commercial businesses at one location to maximise efficiency, growth and economic value creation.
Strategically located between Sohar Port, Muscat Airport and Muscat City, the economic city is also reported to benefit from Free trade agreements signed with the US, Singapore, Europe and the GCC.
The new deals reflect the efforts made by Khazaen to attract more investments, after the recent completion of the first phase of the infrastructure works.
“The signing of these agreements constitutes a strong addition to the projects already at Khazaen. It also affirms the confidence of local and foreign investors in Khazaen as an ideal and new destination for various businesses,” said Khalid Awadh al-Balushi, CEO of Khazaen Economic City.
FoodBev reported that Operations for the factories are planned to commence before the end of next year.
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