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Wed 11 Jun 2014 02:16 PM

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Muscat's Sohar Freezone reaches $500m investment

Jamal Aziz, CEO of Sohar Freezone, says 23 projects are fully committed in phase one

Muscat's Sohar Freezone reaches $500m investment

Total investment in Muscat’s Sohar Freezone has reached $500 million with 23 projects now fully committed, it was reported.

Jamal Aziz, CEO of Sohar Freezone, said that project occupancy in the 500 hectare phase one was about 80 per cent, Muscat Daily reported.

“About 23 projects have been committed so far in the free zone. While some of them are operational, some are under construction and others are to begin construction,” he said.

Aziz said development on phase two had also commenced, with development initially pegged at 200 hectares and then expanded to 500 hectares and beyond.

“Part of the new projects will be moving to the expansion area, which is phase two,” he said. “We have launched an aggressive marketing campaign regionally and internationally and we are receiving a substantial amount of interest. We hope some of this will get translated into projects in the coming months. Besides other markets, we are also focusing on the GCC as the target market.”

He said Sohar Freezone had five ferro-chrome projects, of which some had started operations and others were in the construction stage, Muscat Daily reported.

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