August 26, 2008
Salalah Free Zone Agreements
According to Oman News: Maqbool bin Ali Sultan, Minister of Commerce and Industry next Saturday will preside at Hilton Salalah Hotel over the signing ceremony for a number of agreements related to new projects in Salalah Free Zone. The Minister will also open Octal Petrochemicals and Dions Oman for Vehicle Brakes.Octal Petrochemicals' two factories (Octal and Sapphire with $1.5 billion investment) will mark a new achievement for the industry sector in Oman, extending on 47 hectares and provide employment opportunities for 850 labour. Octal plants manufacture PET and APET substances for plastics industries.Dions Oman for Vehicle Brakes Manufacturing, with $30 million investment, extends on 12 hectares and provide 250 employment opportunities.It is worth mentioning that Salalah Free Zone, established under Royal Decree No. 62/2006 is one of the major national projects that aimed at luring foreign investments and enhancing the performance of the national economy. It also aimed at benefiting from international expertise and acquiring modern technologies.
Originally published by Info-Prod Strategic Business Information.