Latest news with #MattarbinSalimalBadi
Zawya
01-05-2025
- Business
- Zawya
Oman: $33mln deal for major industrial salt venture in Mahout
Muscat – Minerals Development Oman (MDO) has signed a strategic agreement with India-based Dev Salt to launch the Naqa Salt Project in Mahout, Al Wusta, expected to become the largest industrial salt production facility in the region. The agreement was signed by Eng Mattar bin Salim al Badi, CEO of MDO, and Hirendrasinh Jhala, Chairman of Dev Global, in the presence of H E Ibtisam Ahmed Said al Farooji, Undersecretary for Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion. The project, located within MDO's 51K concession along the Arabian Sea, will use solar-powered evaporation technology to produce high-purity, bromine-rich industrial salt. Its proximity to Duqm Port is expected to enhance export access to markets reliant on bromine, caustic soda, and soda ash. H E Ibtisam said, 'We are pleased to support this partnership, which stands as a model for public-private collaboration. The Naqa Salt Project will support economic diversification and attract clean-energy-driven investment. It will also create opportunities for SMEs to contribute to the national value chain.' According to Eng Badi, the RO13.4mn project aims to produce 2mn tonnes of industrial salt annually from evaporation ponds spanning 109sqkm. The salt will have up to 99% purity, targeting sectors including chemicals, oil and gas, logistics, food, and pharmaceuticals. Key export markets will include India among other Asian countries, besides Africa and Europe. Jhala said, 'With Dev Salt's experience in delivering large-scale projects, we are confident in meeting global demand while supporting supply chain security in the sector.' Global demand for industrial salt is projected to exceed 372mn tonnes by 2027. In addition to its industrial role, the project's evaporation ponds are expected to support biodiversity, potentially paving the way for eco-tourism in the area. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
01-05-2025
- Business
- Zawya
Naqa Salt set to become region's largest industrial salt venture
MUSCAT: Reinforcing its commitment to unlocking the full potential of Oman's natural resources, Minerals Development Oman (MDO) has signed a strategic partnership agreement with Dev Salt to launch the Naqa Salt Project in the Wilayat of Mahout. The project is set to become the largest industrial salt production initiative in the region. The agreement was signed by Eng Mattar bin Salim al Badi, CEO of MDO, and Hirendrasingh Jhala, Chairman of Dev Global, in the presence of Ibtisam bint Ahmed al Faroojiyah, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion. The signing took place in collaboration with the Invest Oman. Strategically located in the Wilayat of Mahout, Al Wusta Governorate - within MDO's 51K concession area along the Arabian Sea — the project capitalises on ideal conditions for solar evaporation. Its proximity to Duqm Port further strengthens its export competitiveness to key global markets, particularly those relying on inputs such as bromine, caustic soda and soda ash. The project will utilise sustainable, solar-powered evaporation technology to produce high-purity bromine-rich industrial salt. Speaking on the occasion, Ibtisam al Farooji stated: 'We are pleased to support this partnership, which stands as a practical model for effective public-private collaboration. The Naqa Salt Project will advance the mining sector's alignment with Oman's economic diversification goals by attracting sustainable, clean-energy-driven investments. It also opens new pathways for SMEs to play a vital role in the national value chain. This aligns perfectly with the objectives of the Invest Oman, which seeks to attract high-impact investments and build strategic partnerships across value-added sectors - most notably mining, a key pillar of our national economy.' Eng Mattar al Badi, CEO of MDO, added: 'Naqa Salt represents a significant step for Oman's mining sector, establishing the region's largest facility for high-grade industrial salt production. Leveraging Mahout's unique natural sabkha formations, the project embodies a forward-thinking, eco-conscious approach to resource development. It reflects our unwavering commitment to sustainable growth and long-term economic and environmental impact.' 'With a planned investment of RO 13.4 million, the project aims to produce 2 million tonnes of industrial salt annually. The evaporation ponds will span approximately 109 square kilometres, yielding salt with up to 99% purity — ideal for vital sectors such as chemicals, oil and gas, logistics, food and pharmaceuticals. The project is targeting diversified international markets including India, Africa, Europe and Asia.' Hirendrasingh Jhala, Chairman of Dev Global, commented: 'We are honoured to partner with MDO on this ambitious and strategically important project. Building on Dev Salt's expertise in delivering large-scale salt ventures across India and global markets, we are confident in the project's ability to meet growing demand while supporting industrial resilience and supply chain security in this key sector.' With global demand for industrial salt expected to exceed 372 million tonnes by 2027, the Naqa Salt Project positions Oman as a future-leading producer in the region. Beyond its industrial contributions, the project offers environmental value — its evaporation ponds will create habitats that attract migratory birds and marine life, laying the groundwork for potential eco-tourism development. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. ( Business Reporter
Observer
30-04-2025
- Business
- Observer
Naqa Salt set to become region's largest industrial salt venture
MUSCAT: Reinforcing its commitment to unlocking the full potential of Oman's natural resources, Minerals Development Oman (MDO) has signed a strategic partnership agreement with Dev Salt to launch the Naqa Salt Project in the Wilayat of Mahout. The project is set to become the largest industrial salt production initiative in the region. The agreement was signed by Eng Mattar bin Salim al Badi, CEO of MDO, and Hirendrasingh Jhala, Chairman of Dev Global, in the presence of Ibtisam bint Ahmed al Faroojiyah, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion. The signing took place in collaboration with the Invest Oman. Strategically located in the Wilayat of Mahout, Al Wusta Governorate - within MDO's 51K concession area along the Arabian Sea — the project capitalises on ideal conditions for solar evaporation. Its proximity to Duqm Port further strengthens its export competitiveness to key global markets, particularly those relying on inputs such as bromine, caustic soda and soda ash. The project will utilise sustainable, solar-powered evaporation technology to produce high-purity bromine-rich industrial salt. Speaking on the occasion, Ibtisam al Farooji stated: 'We are pleased to support this partnership, which stands as a practical model for effective public-private collaboration. The Naqa Salt Project will advance the mining sector's alignment with Oman's economic diversification goals by attracting sustainable, clean-energy-driven investments. It also opens new pathways for SMEs to play a vital role in the national value chain. This aligns perfectly with the objectives of the Invest Oman, which seeks to attract high-impact investments and build strategic partnerships across value-added sectors - most notably mining, a key pillar of our national economy.' Eng Mattar al Badi, CEO of MDO, added: 'Naqa Salt represents a significant step for Oman's mining sector, establishing the region's largest facility for high-grade industrial salt production. Leveraging Mahout's unique natural sabkha formations, the project embodies a forward-thinking, eco-conscious approach to resource development. It reflects our unwavering commitment to sustainable growth and long-term economic and environmental impact.' 'With a planned investment of RO 13.4 million, the project aims to produce 2 million tonnes of industrial salt annually. The evaporation ponds will span approximately 109 square kilometres, yielding salt with up to 99% purity — ideal for vital sectors such as chemicals, oil and gas, logistics, food and pharmaceuticals. The project is targeting diversified international markets including India, Africa, Europe and Asia.' Hirendrasingh Jhala, Chairman of Dev Global, commented: 'We are honoured to partner with MDO on this ambitious and strategically important project. Building on Dev Salt's expertise in delivering large-scale salt ventures across India and global markets, we are confident in the project's ability to meet growing demand while supporting industrial resilience and supply chain security in this key sector.' With global demand for industrial salt expected to exceed 372 million tonnes by 2027, the Naqa Salt Project positions Oman as a future-leading producer in the region. Beyond its industrial contributions, the project offers environmental value — its evaporation ponds will create habitats that attract migratory birds and marine life, laying the groundwork for potential eco-tourism development.
Muscat Daily
30-04-2025
- Business
- Muscat Daily
RO13.4mn deal for major industrial salt venture in Mahout
Muscat – Minerals Development Oman (MDO) has signed a strategic agreement with India-based Dev Salt to launch the Naqa Salt Project in Mahout, Al Wusta, expected to become the largest industrial salt production facility in the region. The agreement was signed by Eng Mattar bin Salim al Badi, CEO of MDO, and Hirendrasinh Jhala, Chairman of Dev Global, in the presence of H E Ibtisam Ahmed Said al Farooji, Undersecretary for Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion. The project, located within MDO's 51K concession along the Arabian Sea, will use solar-powered evaporation technology to produce high-purity, bromine-rich industrial salt. Its proximity to Duqm Port is expected to enhance export access to markets reliant on bromine, caustic soda, and soda ash. H E Ibtisam said, 'We are pleased to support this partnership, which stands as a model for public-private collaboration. The Naqa Salt Project will support economic diversification and attract clean-energy-driven investment. It will also create opportunities for SMEs to contribute to the national value chain.' According to Eng Badi, the RO13.4mn project aims to produce 2mn tonnes of industrial salt annually from evaporation ponds spanning 109sqkm. The salt will have up to 99% purity, targeting sectors including chemicals, oil and gas, logistics, food, and pharmaceuticals. Key export markets will include India among other Asian countries, besides Africa and Europe. Jhala said, 'With Dev Salt's experience in delivering large-scale projects, we are confident in meeting global demand while supporting supply chain security in the sector.' Global demand for industrial salt is projected to exceed 372mn tonnes by 2027. In addition to its industrial role, the project's evaporation ponds are expected to support biodiversity, potentially paving the way for eco-tourism in the area.
