Latest news with #RO28mn
Muscat Daily
18-06-2025
- Business
- Muscat Daily
KOM attracts 27 new projects worth RO28mn in 2024
Muscat – Knowledge Oasis Muscat (KOM), the technology park operating under the Public Establishment for Industrial Estates (Madayn), attracted 27 new projects in 2024, drawing investments exceeding RO28mn across a total area of 48,000 sqm. This achievement reflects KOM's ongoing commitment to positioning Oman as a dynamic, knowledge-based economy driven by diversity, growth, and sustainability. Eng Jaafar al Ajmi, Director General of KOM, said that the cumulative investment volume at KOM had risen to RO312.52mn by the end of 2024. The number of projects has now surpassed 200, employing 2,621 individuals and occupying a total area of 759,566 sqm. Ajmi also outlined Madayn's upcoming development plans for KOM, including the construction of a multi-storey car park and the establishment of a 1.4MW solar photovoltaic power plant. He added that Madayn has completed infrastructure works related to the Ring Road project, launched a smart mobility initiative using e-scooters within KOM, developed a pedestrian walkway in the Boulevard Zone, and installed a new perimeter security fence around the premises. In alignment with Madayn's broader smart city initiatives and its commitment to enhancing Oman's business ecosystem, Ajmi highlighted KOM's successful field test of the RTK GNSS L700H tablet – an advanced GIS device used for surveying and mapping infrastructure. 'Additionally, KOM has partnered with Drone First Company to pilot the use of drones for cleaning building exteriors. This initiative aims to conserve water, promote the use of eco-friendly materials, and enhance sustainability in facilities management. It will also improve safety by reducing the need for manual labour in high-risk environments, while aligning with global trends in smart, efficient solutions,' he explained. Through Knowledge Oasis Muscat, Madayn continues to attract international and regional firms seeking to expand or relocate their operations within the Sultanate. KOM also plays a vital role in supporting start-ups and SMEs focused on technology and innovation by offering world-class infrastructure and comprehensive support services. Furthermore, KOM fosters collaboration between academic institutions and knowledge-driven enterprises, contributing to a vibrant ecosystem that promotes innovation and knowledge exchange in line with Oman Vision 2040.
Muscat Daily
03-03-2025
- Business
- Muscat Daily
Fisheries sector gets RO51mn investment boost; 2 pacts inked
Muscat – Ministry of Agriculture, Fisheries and Water Resources (MAFWR) has signed two major agreements worth over RO51mn aimed at supporting the fisheries sector. These initiatives are part of the government's ongoing efforts to diversify the economy and enhance the sector's contribution to the GDP. The first agreement, valued at approximately RO28mn, involves a contract with Khimji Ramdas Construction and Archimedes Marine Engineering and Contracting to develop a multi-purpose fishing port in Masirah. This comprehensive development is set to support the fisheries sector while promoting tourism and commercial activities. Key features of the Masirah fishing port project will include 4,172m of breakwater, increased port basin depth by 5m, creation of 1,100m sandy beach, and installation of 13 floating berths. These upgrades are expected to improve facilities for fishermen, enhance maritime and logistical transport between Masirah and other wilayats, and promote economic diversification. The project will also provide essential amenities for visitors, including berths for Royal Oman Police. According to Yaqoub bin Khalfan al Busaidi, Undersecretary for Fisheries in MAFWR, the agreement supports the government's broader economic diversification plan. 'Development of the port aligns with the goal of attracting investment, stimulating tourism, and creating a favourable environment for Omani fishermen, including facilities for fish landing, marketing and vessel maintenance.' In 2023, Masirah produced 25,000 tonnes of fish valued at RO23.2mn. The island is home to around 2,345 fishermen, with approximately 804 fishing boats and 38 artisanal vessels. White shrimp aquaculture In the second agreement, the ministry signed a usufruct contact with National Phoenix Company for a white shrimp farming project in Shinas, North Batinah. Covering an area of 15 hectares, the project is an important step towards enhancing food security and diversifying income sources in line with Oman Vision 2040. The white shrimp aquaculture venture, with expected annual production of 7,500 tonnes, is set to become one of the largest fish farming projects in the country. With total investment of RO23.5mn, it aims to stimulate the local economy by creating direct job opportunities for Omani youth and supporting growth of the aquaculture sector. Additionally, the Shinas project will facilitate transfer of advanced technology and expertise, further developing the skills of the workforce in North Batinah.
