Latest news with #OQGroup
Zawya
27-05-2025
- Business
- Zawya
ZEINOX, OQ Group to launch $2.6mln plastics factory in Oman
Egypt - A strategic cooperation agreement has been signed between Egypt's Arab Metals Company ZEINOX and Oman's OQ Group to establish a plastic manufacturing facility in the Sultanate of Oman, with a total investment of $2.6m. The project will be implemented under Oman's LADAYN industrial programme and is aimed at strengthening local production capacity and boosting regional exports. The signing ceremony was attended by Abdullah bin Nasser Al-Rahbi, Oman's Ambassador to Egypt, who described the agreement as a reflection of the deepening economic ties between the two countries and a tangible outcome of diplomatic and business collaboration. The upcoming factory will produce a broad range of plastic products for the Omani market and neighboring Arab countries, contributing to regional industrial integration and supporting Oman's diversification efforts under Vision 2040. Maged El-Zeiny, Chairperson of ZEINOX, said the initiative aligns with the company's strategy to deepen regional partnerships and support Oman's ambitions to localize manufacturing. 'This investment creates promising opportunities and reinforces industrial cooperation between Arab states,' he added. Ambassador Al-Rahbi praised the growing interest from Egyptian investors in Oman and emphasized the importance of such ventures in enhancing trade volume and mutual economic growth. 'This investment reflects Oman's strong industrial position in the plastics sector and the increasing appeal of its investment environment,' he noted. Mundher Al Rawahi, Head of the LADAYN programme, said the initiative—led by OQ Group in coordination with entities such as MADAYN—has already secured 18 investment agreements totaling $160m. The programme is focused on attracting strategic industrial projects that support Oman's broader economic transformation goals. Wael Abbas, Vice Chairman of ZEINOX, highlighted the partnership as a key step in the company's efforts to diversify its investment portfolio and expand its regional and global footprint. 'This collaboration is part of our ambition to build cross-border industrial partnerships that enhance competitiveness and drive growth,' he said. OQ Group continues to expand its polymer-focused value chain as part of its long-term strategy to localize advanced industries, attract specialized investment, and support Oman's shift toward a diversified, knowledge-based economy. The project represents a convergence of public and private efforts across Egypt and Oman, and underscores the broader trend of Arab industrial integration through targeted joint ventures. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Daily News Egypt
26-05-2025
- Business
- Daily News Egypt
ZEINOX, OQ Group to launch $2.6m plastics factory in Oman
A strategic cooperation agreement has been signed between Egypt's Arab Metals Company ZEINOX and Oman's OQ Group to establish a plastic manufacturing facility in the Sultanate of Oman, with a total investment of $2.6m. The project will be implemented under Oman's LADAYN industrial programme and is aimed at strengthening local production capacity and boosting regional exports. The signing ceremony was attended by Abdullah bin Nasser Al-Rahbi, Oman's Ambassador to Egypt, who described the agreement as a reflection of the deepening economic ties between the two countries and a tangible outcome of diplomatic and business collaboration. The upcoming factory will produce a broad range of plastic products for the Omani market and neighboring Arab countries, contributing to regional industrial integration and supporting Oman's diversification efforts under Vision 2040. Maged El-Zeiny, Chairperson of ZEINOX, said the initiative aligns with the company's strategy to deepen regional partnerships and support Oman's ambitions to localize manufacturing. 'This investment creates promising opportunities and reinforces industrial cooperation between Arab states,' he added. Ambassador Al-Rahbi praised the growing interest from Egyptian investors in Oman and emphasized the importance of such ventures in enhancing trade volume and mutual economic growth. 'This investment reflects Oman's strong industrial position in the plastics sector and the increasing appeal of its investment environment,' he noted. Mundher Al Rawahi, Head of the LADAYN programme, said the initiative—led by OQ Group in coordination with entities such as MADAYN—has already secured 18 investment agreements totaling $160m. The programme is focused on attracting strategic industrial projects that support Oman's broader economic transformation goals. Wael Abbas, Vice Chairman of ZEINOX, highlighted the partnership as a key step in the company's efforts to diversify its investment portfolio and expand its regional and global footprint. 'This collaboration is part of our ambition to build cross-border industrial partnerships that enhance competitiveness and drive growth,' he said. OQ Group continues to expand its polymer-focused value chain as part of its long-term strategy to localize advanced industries, attract specialized investment, and support Oman's shift toward a diversified, knowledge-based economy. The project represents a convergence of public and private efforts across Egypt and Oman, and underscores the broader trend of Arab industrial integration through targeted joint ventures.
Observer
26-05-2025
- Business
- Observer
Omani-Egyptian companies sign industrial investment agreement
CAIRO: An industrial investment agreement worth RO 1 million ($2.6 million) was signed on Monday at the Embassy of the Sultanate of Oman in Cairo between global company Zeinox and "Ladayn" programme of OQ Group. Abdullah bin Nasser al Rahbi, the Sultanate of Oman's Ambassador to the Arab Republic of Egypt and Oman's Permanent Representative to the Arab League, emphasised that the "Ladayn" programme represents a promising step in developing and attracting investments to the plastics industry sector. This enhances utilisation of Oman's abundant raw materials and reinforces industrial integration and expertise exchange between the countries. Al Rahbi lauded the vital role undertaken by Omani and Egyptian business leaders as key pillars in strengthening bilateral relations and transforming them into practical projects. He noted both countries possess promising investment advantages and strategic geographic locations that create wide-ranging cooperation opportunities. The ambassador highlighted growing interest from public and private sectors in both countries to explore partnership and investment opportunities, particularly in energy, petrochemicals, industry and maritime transport. He expressed hope these efforts would boost trade exchange and enhance shared economic growth prospects. Al Rahbi stated that Oman's Embassy in Cairo operates according to economic diplomacy principles, a cornerstone of Oman Vision 2040 aimed at income diversification and establishing Oman as an attractive investment hub. This approach has opened promising horizons for investment opportunities and encouraged direct communication between institutions and business leaders from both sides. The ambassador noted that qualitative partnerships achieved in recent years result from the embassy's ongoing efforts to promote investment opportunities, encourage joint investments and expand cooperation horizons - aligning with Oman's development vision and Egypt's economic orientation towards a productive, diversified investment-based economy. Dr Shady El Zini, Board Member of Zeinox Global, stated establishing the company's factory in Oman will create job opportunities for citizens and provide high-quality products meeting local, regional and global market needs. He emphasised the project will benefit from Oman's exceptional investment components and incentives across various fields. Eng Munther bin Saleh al Rawahi, Director of Ladayn programme at OQ Group, revealed the programme has signed 18 agreements to date with total investments exceeding $160 million. This achievement reflects OQ Group's commitment to supporting manufacturing industries, particularly petrochemicals, by empowering private sector and maximising utilisation of hydrocarbon derivatives, thus broadening industrial development prospects. - ONA
Times of Oman
26-05-2025
- Business
- Times of Oman
Omani-Egyptian companies sign industrial investment agreement
Cairo: An industrial investment agreement worth OMR1 million ($2.6 million) was signed on Monday at the Embassy of the Sultanate of Oman in Cairo between global company Zeinox and "Ladayn" programme of OQ Group. Abdullah Nasser Al Rahbi, the Sultanate of Oman's Ambassador to the Arab Republic of Egypt and Oman's Permanent Representative to the Arab League, emphasised that the "Ladayn" programme represents a promising step in developing and attracting investments to the plastics industry sector. This enhances utilisation of Oman's abundant raw materials and reinforces industrial integration and expertise exchange between the countries. Al Rahbi lauded the vital role undertaken by Omani and Egyptian business leaders as key pillars in strengthening bilateral relations and transforming them into practical projects. He noted both countries possess promising investment advantages and strategic geographic locations that create wide-ranging cooperation opportunities. The Ambassador highlighted growing interest from public and private sectors in both countries to explore partnership and investment opportunities, particularly in energy, petrochemicals, industry and maritime transport. He expressed hope these efforts would boost trade exchange and enhance shared economic growth prospects. Al Rahbi stated that Oman's Embassy in Cairo operates according to economic diplomacy principles, a cornerstone of Oman Vision 2040 aimed at income diversification and establishing Oman as an attractive investment hub. This approach has opened promising horizons for investment opportunities and encouraged direct communication between institutions and business leaders from both sides. The Ambassador noted that qualitative partnerships achieved in recent years result from the Embassy's ongoing efforts to promote investment opportunities, encourage joint investments, and expand cooperation horizons - aligning with Oman's development vision and Egypt's economic orientation toward a productive, diversified investment-based economy. Dr. Shady El Zini, Board Member of Zeinox Global, stated establishing the company's factory in Oman will create job opportunities for citizens and provide high-quality products meeting local, regional and global market needs. He emphasized the project will benefit from Oman's exceptional investment components and incentives across various fields. Eng. Munther Saleh Al Rawahi, Director of Ladayn program at OQ Group, revealed the program has signed 18 agreements to date with total investments exceeding $160 million. This achievement reflects OQ Group's commitment to supporting manufacturing industries, particularly petrochemicals, by empowering private sector and maximising utilisation of hydrocarbon derivatives, thus broadening industrial development prospects.
Zawya
14-05-2025
- Business
- Zawya
Oman's OQAE plans green hydrogen pilot in Duqm
MUSCAT: OQ Alternative Energy (OQAE), a subsidiary of OQ Group, is developing a pilot-scale green hydrogen project designed to equip the company with practical experience essential to fulfilling its role as Oman's National Champion for Alternative Energy. The state-owned entity said the pilot, featuring an electrolyser capacity of 10 – 15 MW, is proposed to be established in the Special Economic Zone at Duqm (SEZAD). 'This initiative will provide hands-on experience in executing and operating green hydrogen projects, testing real-world applications, and generating insights for future large-scale hydrogen developments,' OQAE revealed in the newly published 2024 Sustainability Report of parent holding company OQ Group. The announcement comes as OQAE presses ahead with the delivery of a substantive pipeline of green hydrogen projects, renewable solar and wind energy schemes, and a plethora of other clean energy initiatives entailing several billions of dollars in investments over the coming years. On Monday, May 12, 2025, the company signed pacts to progress, finance and collaborate on an array of renewable and clean energy initiatives involving investments totalling around $2 billion. The list includes the 100 MW North Solar plant in Saih Nihaydah in northern Oman, and two 100 MW wind farms—Riyah-1 and Riyah-2—located in the Amin and West Nimr fields in the south; a 700 MW renewable energy project to power United Solar's polysilicon plant in Suhar, a 500 MW renewables scheme for Jindal; a 140MW renewable energy project with Oxy Zero in Block 9, and a 105 MW renewable energy project with Vale. They are part of a renewable energy pipeline of up to 7 GW across Oman. Furthermore, OQAE has secured a commitment from Nama Power and Water Procurement Company (Nama PWP), the sole procurer and offtaker of electricity generation and desalinated water capacity, to obtain up to a 25 per cent stake in future Independent Power Projects (IPPs). 'This has significantly expanded OQAE's customer base, which now includes oil and gas operators, industrial clients, and direct power demand through NPWP projects,' parent company OQ Group noted in its Sustainability Report. Importantly, OQAE is positioned to play a leading role in the delivery of Oman's long-term green hydrogen strategy. The company continues to work with key stakeholders in advancing three large-scale green hydrogen schemes, which will account for a significant share of the country's target to produce at least 1 million tonnes per annum of green hydrogen molecules by 2030. Key projects backed by OQAE thus far are: HYPORT Duqm, a joint venture with DEME & BP featuring 1.3 GW of renewable capacity in SEZAD; Green Energy Oman (GEO), a collaboration with InterContinental Energy, Enertech Holding Company, and Shell to supply approximately 4 GW of green power, with proposed downstream and export facilities in the SEZ at Duqm; and SalalaH2, a joint venture with Marubeni, Samsung C&T, and Dutco, bringing 3.8 GW of renewable energy capacity to Dhofar. 'Beyond production, OQAE is also diversifying market opportunities by exploring alternative vectors and downstream applications to drive demand. This includes positioning Oman as a global hub for low-carbon bunkering, piloting e-fuel projects such as e-Gasoline and e-SAF, leveraging biogenic CO2 for e-Methanol, and developing an e-NG facility utilising green hydrogen and CO2 through methanation,' the company added in the report. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
