Ladayn Polymer Park to Enter Production in 2025 with Almost USD155M Investment Across 16 Factories
OQ is proud to announce a significant milestone in the development of Ladayn Polymer Park, as three pioneering companies transition from the construction phase to production in early 2025. Representing a combined investment of $42 million, these companies include one Omani and two international leaders, highlighting Ladayn Polymer Park's global appeal and Oman's growing role as a hub for industrial innovation and sustainability.
Since its inception, Ladayn Polymer Park has achieved extraordinary milestones, securing 16 agreements valued at almost $155 million. These agreements span diverse applications in packaging, construction, and advanced polymer solutions, reflecting the park's strategic importance in reducing Oman's reliance on imports and bolstering local manufacturing capabilities.
'This milestone demonstrates the transformative potential of Ladayn Polymer Park in fostering local manufacturing, creating jobs, and driving Oman's economic growth. By enabling the production of finished plastic products locally, we are not only reducing our reliance on imports but also positioning Oman as a regional hub for innovation and sustainability in the polymer industry,' said Sadiq Hassan Al-Lawati, Managing Director of OQ Marketing.
Local and Global Collaborators Leading the Way
Set to begin production in Q1 of 2025, Madayn Plastic Company (MAPCO), an Omani pioneer, invested $8 million to become the first company in the nation to produce Form Fill Seal (FFS) bags. MAPCO is projected to create 20 direct jobs, significantly strengthening Oman's self-sufficiency in the plastics sector. The company's operations mark a major step toward building a robust domestic manufacturing ecosystem.
Adding international expertise is M.A.K Sohar, a German company renowned for their expertise in developing high-performance chemical solutions in the areas of automotive, construction, agriculture, and healthcare. Leveraging cutting-edge machinery and collaborating with local contractors, M.A.K. Sohar has committed $11 million to a state-of-the-art facility in the Sohar Free Zone. It will start production in Q2 2025 focusing on TPE and engineering compounds designed to meet the evolving needs of polymer manufacturers.
Also preparing for production in Q2 is Multibond Metal LLC, a Chinese-Indian joint venture. It made a landmark $23 million investment to Ladayn Polymer Park to focus on advanced polymer solutions for heat resistance and surface protection. The project will create 30 direct jobs, establishing Oman as a regional leader in cutting-edge polymer applications.
'Our partnerships with investors like MAPCO, M.A.K Sohar, and Multibond Metal LLC highlight the strategic importance of Ladayn Polymer Park in the region. Through initiatives like these, we are creating an integrated ecosystem that supports value-added manufacturing, addresses global challenges, and enhances Oman's industrial capabilities,' said Mundhar Al Rawahi, Ladayn Park Program Leader.
Strategic Location and Future Potential
To drive growth and enhance operational efficiency, the companies have established supply contracts with OQ, ensuring consistent access to high-quality raw materials at competitive prices. The easy access to raw materials, along with the strategic geographical advantage to markets through Sohar Port and the economic incentives of Sohar Freezone, have made Ladayn Polymer Park the ideal location for companies looking to expand in the region.
'We are strategically positioned with access to emerging markets in West Asia and Africa. In addition, the park's bespoke incentives, advanced infrastructure, and dependable raw material supply from OQ create a thriving environment for businesses to succeed,' adds Sadiq Al-Lawati. 'We look forward to welcoming more investors and partners to the park in 2025.'
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