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Muscat Daily
10-02-2025
- Business
- Muscat Daily
Ladayn Polymer Park to start production in early 2025
Muscat – OQ Group on Monday announced 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 $42mn, these companies include one Omani firm and two international players, underscoring 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 made remarkable progress, securing 16 agreements worth nearly $155mn. These agreements span various applications in packaging, construction, and advanced polymer solutions, reinforcing the park's strategic importance in reducing Oman's reliance on imports and strengthening 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. Set to begin production in Q1 2025, Madayn Plastic Company (MAPCO), an Omani pioneer, has invested $8mn to become the first company in the country to manufacture Form Fill Seal (FFS) bags. MAPCO is expected to play a key role in enhancing Oman's self-sufficiency in the plastics sector, marking a significant step towards building a robust domestic manufacturing ecosystem. Bringing international expertise to the park is MAK Sohar, a German company renowned for its high-performance chemical solutions in the automotive, construction, agriculture, and healthcare sectors. Leveraging cutting-edge machinery and collaborating with local contractors, MAK Sohar has committed $11mn to establishing a state-of-the-art facility in the Sohar Free Zone. The facility will commence production in Q2 2025, focusing on thermoplastic elastomers (TPE) and engineering compounds to meet the evolving needs of polymer manufacturers. Also preparing for production in Q2 2025 is Multibond Metal Company, a Chinese-Indian joint venture that has made a landmark $23mn investment in Ladayn Polymer Park. The company will focus on advanced polymer solutions for heat resistance and surface protection, positioning Oman as a regional leader in cutting-edge polymer applications. 'Our partnerships with investors like MAPCO, MAK Sohar, and Multibond Metal highlight the strategic importance of Ladayn Polymer Park in the region. Through initiatives such as 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 Programme Leader. 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 availability of raw materials, combined with Sohar Port's strategic geographical advantage and the economic incentives of the Sohar Freezone, has made Ladayn Polymer Park an 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,' Lawati added. 'We look forward to welcoming more investors and partners to the park in 2025.'
Observer
10-02-2025
- Business
- Observer
Ladayn Polymer Park to begin production in 2025
MUSCAT: Ladayn Polymer Park is set to enter a new phase of development as three pioneering companies move from construction to production in early 2025. With a combined investment of $42 million, these firms — one Omani and two international — underscore Oman's ambition to establish itself as a regional leader in plastics manufacturing. Since its inception, Ladayn Polymer Park has secured 16 agreements worth nearly $155 million, supporting industries in packaging, construction and advanced polymer solutions. This initiative is a major step in reducing Oman's reliance on imports and strengthening local manufacturing capabilities. "This milestone highlights the transformative role of Ladayn Polymer Park in driving industrial growth, creating jobs and positioning Oman as a hub for polymer innovation and sustainability," said Sadiq Hassan al Lawati, Managing Director of OQ Marketing. PIONEERING COMPANIES LEADING THE CHARGE Madayn Plastic Company (MAPCO), an Omani firm, has invested $8 million to establish the country's first production line for Form Fill Seal (FFS) bags. With 20 direct jobs expected, MAPCO's operations will enhance Oman's self-sufficiency in plastic packaging. MAK Sohar, a German company specialising in high-performance chemical solutions for the automotive, construction and healthcare sectors, has committed $11 million to a cutting-edge facility in Sohar Free Zone. Set to begin production in Q2 2025, the plant will manufacture TPE and engineering compounds, supporting the growing demand for advanced polymer materials. Meanwhile, Multibond Metal LLC, a Chinese-Indian joint venture, has invested $23 million in advanced polymer solutions for heat resistance and surface protection. This initiative, set to create 30 direct jobs, will solidify Oman's position as a leader in specialised polymer applications. "Our partnerships with investors like MAPCO, MAK Sohar and Multibond Metal LLC reflect Ladayn Polymer Park's strategic role in the region. We are building an integrated ecosystem that supports value-added manufacturing and enhances Oman's industrial capabilities," said Mundhar al Rawahi, Ladayn Park Programme Leader. STRATEGIC LOCATION AND FUTURE POTENTIAL To ensure efficient operations, all three companies have secured supply contracts with OQ, guaranteeing access to high-quality raw materials at competitive prices. Additionally, Ladayn Polymer Park's proximity to SOHAR Port and Freezone provides a logistical advantage for companies expanding into West Asian and African markets. "With advanced infrastructure, attractive incentives and a steady raw material supply from OQ, Ladayn Polymer Park is the ideal destination for polymer manufacturers. We look forward to welcoming more investors in 2025," added Sadiq al Lawati. With strong local and international investments, Ladayn Polymer Park is set to redefine Oman's polymer industry, creating new economic opportunities while strengthening the country's position as a regional industrial hub.
