Khazaen Economic City has made a deal with an Omani-Saudi joint venture to establish seven food and drink factories in the economic city, according to reports in Oman.
The Omani-Saudi joint venture is made up of United Vision for Investment and Development and Al Maha Food Industries.
The three tenancy agreements are valued at nearly OMR 3 million (approximately $7.8 million), as reported by several papers in Oman.
Under the agreements, Khazaen will lease 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. They will also be used for the manufacture of water bottles, ice production, bottling drinking water, in addition to a factory for plastic related products.
Khazaen is an integrated economic city being developed over 51.6 million square-metres in Oman. 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.
He added: “Diverse projects such as these manufacturing units are very important to bring foreign investment to the Sultanate, but also contribute towards creating more job opportunities for the local Omani youth and supporting the government’s economic diversification plans.”
Operations for the factories are planned to commence before the end of next year.
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