| Sohar Free Zone Phase-I work under way |
Mustafa Al Maamari
MUSCAT The operating agency of the Sohar Free Zone has completed most of the infrastructure work related to preparation of land, roads, lighting and other essential logistic services in the first phase.
There are 12 projects worth total cost of 80 million rials, while 15 other projects are under study, a source told Oman Tribune.
The completion of the projects will place the free zone among the fastest growing free zones in terms of attracting financial investment and economic yield making it a vital free zone outside the Strait of Hormuz. It will link the markets of the neighbouring countries through roads networks, direct shipping lines and railways in future.
Gulf and foreign investors have come to invest in Sohar Free Zone in sectors such as iron and steel, aluminum, petrochemicals and other logistics activities.
There is also demand for setting up projects in ferrochrome industry because of the availability of chromium raw material in the Sultanate, the source said. The total area of the first phase of the free zone project is 5 million square metres and the total area of the free zone is 45 million square metres, he added.
Oman Tribune
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