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Sat 31 Aug 2019 12:23 AM

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Over $1bn investments attracted to Oman industrial city

Raysut Industrial City sees 32 new investment applications in the first six months of 2019

Over $1bn investments attracted to Oman industrial city
The industrial city witnessed growing investment activity during the first half of 2019.

Oman's Raysut Industrial City has announced that it has attracted total investments of more than OR422.3 million ($1.09 billion).

The industrial city witnessed growing investment activity during the first half of 2019, according to Hamad bin Hamoud Al Qasabi, director general of Raysut Industrial City.

He said that a total of 32 investment applications of industrial, commercial and service activities were received during the first six months of the year.

Commenting on the OR422 million investment figure, he added: “We are working towards increasing this number further taking into consideration the expansion of the operating companies and factories in terms of space, production lines and capital.

"All these factors are promising and reassure that their products are popular in the Sultanate as well as overseas markets.”

Al Qasabi also said an infrastructure development project (Raysut 2) is being implements at a cost of OR4 million on a land area of one million square metres.

The project includes the establishment of an integrated network of roads, pavements and drainage network of 7.9km in addition to water network of up to 8.3km that includes irrigation systems and is expected to be completed by the end of 2020.

By the end of 2018, total space stood at 3,810,479 sq m, he said, adding that the total workforce had risen to 3,358, of which around 800 are Omanis.

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