Friday, August 19, 2022

OMAN: Ibri Industrial City attracts 23 projects worth over RO 9 m

Phase One of the project is being developed on an area of 3 million sqm and incorporates road works, services network such as sewage, rain and telecom networks, and wadi protection walls.

The Public Establishment for Industrial Estates “Madayn” is currently implementing the construction project of Ibri Industrial City, where the completion rate of the infrastructure project in Phase One has surpassed 27 per cent. 

Phase One of the project is being developed on an area of 3 million sqm and incorporates road works, services network such as sewage, rain and telecom networks, and wadi protection walls.

The number of localised projects in Ibri Industrial City in Al Dhahirah governorate has reached 23 projects on a total area of 250,000 sqm and an investment value exceeding RO 9 million, informed Eng. Nasser Al Mabsali, Director General of Ibri Industrial City. 

Eng Mabsali stated that Madayn will invest in developing the infrastructure including roads, lighting, water and communication networks, sewage networks, landscaping, and electricity network in coordination with Majan Electricity Company.

“The strategic location of Ibri Industrial City on the road leading to Saudi Arabia and due to its close proximity to Oman’s oil concession areas. Located about 200 km from Sohar Port and 300 km from Muscat Governorate, the industrial city will serve the mining, marble and food investment sectors,” Al Mabsali pointed out.

By establishing Ibri Industrial City, Madayn aims to achieve its vision in spreading a lineup of industrial cities throughout the Sultanate’s governorates, contributing to the advancement of the national economy, and providing direct and indirect job opportunities for the nationals in Al Dhahirah Governorate.

He added, “Once the Rub Al Khali (Empty Quarter) border opens, it will facilitate the movement of goods from Saudi Arabia and the Levant countries, activate the warehousing and storage sector and boost the volume of exports in marble, foodstuff and other sectors.”

These projects represent several sectors including building materials, oil and gas services, foodstuff and warehouses.  

Al Mabsali pointed out that Ibri Industrial City is located on an area spanning 10 million sqm, and aims at localising a variety of industrial, commercial and service activities such as light and medium industries, commercial projects, administrative offices, industrial workshops, warehouses, and work-force township.

It is worthwhile to mention that Madayn had floated a tender earlier this year as an investment opportunity to establish a one-stop shop comprising a petrol station, rest area, and service station for trucks and vehicles passing through the road to Saudi Arabia. 

In terms of incentives and privileges granted to investors to boost investment opportunities in Ibri Industrial City, Madayn has announced earlier this year exemption from rental value for a period of two years for all new projects, followed by a reduction in the rental value for a period of three years by 50 per cent for contracts concluded during the period from 2021 to 2024, in addition to reducing all other fees listed in Annex (1) of the Investment Regulations by 50 per cent for all new projects during the period from 2021 to 2024.

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