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Muscat Daily
02-07-2025
- Business
- Muscat Daily
Al Mudhaibi Industrial City attracts RO5.75mn in new investments
Muscat – Al Mudhaibi Industrial City, operated by Public Establishment for Industrial Estates – Madayn, signed two investment agreements on Wednesday for the establishment of six new factories. The deals are valued at RO5.75mn and will cover more than 21,000sqm. The signing took place in the presence of Mahmoud bin Yahya al Dhuhli, Governor of North Sharqiyah, and Dawood bin Salim al Hadabi, CEO of Madayn, alongside officials from both public and private sector entities. The first agreement, signed with Global Prime Matter SPC, involves setting up four factories producing electrical materials, electronics, home furniture and cold storage supplies. The total investment for this project is RO5mn with operations to be based on a 14,538sqm plot. The second agreement, signed with Middle East Livestock Company, includes an automated poultry slaughterhouse and a disinfectants production factory. This project spread over 7,000sqm will see investment of over RO750,000. Said bin Khalfan al Shabibi, Acting Director General of Al Mudhaibi Industrial City, said the city attracted five industrial projects in the last quarter of 2024, worth a combined RO5.8mn. These agreements followed an investment call in October 2024 raising total investment in the city to RO11.6mn across 75,000sqm. He added that the tender for Phase 1 development of the city is expected to be awarded early next quarter. This phase will include infrastructure works such as internal roads, perimeter fencing, gate facilities, construction of offices and facility buildings, and utility networks for electricity, water, sewage and Internet. It will include plans for Madayn's Entrepreneurial and Agricultural Complexes. Al Mudhaibi Industrial City spans 9mn sqm, with Phase 1 covering around 1.5mn sqm. Strategically located near the main highway linking Special Economic Zone at Duqm with key ports and border points, the city is part of a national strategy to drive economic growth in North Sharqiyah. The industrial city is aligned with Madayn Vision 2040 and Oman Vision 2040, which aim to develop integrated industrial cities in collaboration with the private Correspondent
Zawya
11-03-2025
- Business
- Zawya
Oman: Omantel Group reports $794mln net profit, $7bln revenue for 2024
Muscat: Oman Telecommunications Company (Omantel) Group has reported significant growth in its financial results for the year 2024. The group's revenue (including Zain Group's operations) increased by 3%, from RO2.942bn at the end of 2023 to RO3.03bn in 2024. Although Omantel Group's net profit saw a slight decline of 2.8%, falling from RO315.5mn in 2023 to RO306.8mn in 2024, the net profit attributable to the shareholders of the company (excluding non-controlling interest) increased by 4.4%, rising to RO78.1mn in 2024 from RO74.8mn in 2023. On the domestic front, Omantel's revenues grew by 2.7%, reaching RO622.6mn, compared to RO606.5mn in the same period of 2023. This growth was driven by a 6% increase in mobile postpaid segment revenue and a 7% rise in fixed broadband revenues year-on-year. The net profit of Omantel's domestic operations for 2024 stood at RO69.4mn, compared to RO68.1mn in the previous period, marking a growth of 1.9%. This increase was primarily due to the positive impact of the settlement of a financial claim related to services provided by Omantel before 2020. Zain Group, Omantel's subsidiary, reported revenues of RO2.466bn for the year ended December 31, 2024, up from RO2.361bn in the corresponding period of the previous year, an increase of 4.47%. EBITDA stood at RO861.4mn, compared to RO871.2mn in the same period last year. Zain Group's net profit was RO313.9mn, down from RO359.7mn in the previous period. The Omantel Board of Directors has recommended to the company's Annual General Meeting, which will be held on March 27, 2025, the distribution of a cash dividend of 55bz per share for the year ended December 31, 2024 (subject to shareholder approval). Additionally, the board has proposed allocating RO750,000 for community service during 2025. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
28-01-2025
- Health
- Zawya
Oman: MoH opens 19-bed Al Amerat Heights Health Complex
Muscat – Ministry of Health (MoH) has taken another step towards enhancing its healthcare system with the inauguration of Al Amerat Heights Health Complex on Monday. Built at a cost of RO750,000, the facility is spread over 15,000sqm and was completed in 16 months. It aims to meet the growing demand for healthcare services while aligning with the goals of Oman Vision 2040 to build a sustainable healthcare system and improve community well-being. The opening ceremony was officiated by H E Ahmed bin Saleh al Rashidi, Undersecretary of Ministry of Endowments and Religious Affairs, alongside H E Dr Ahmed bin Salem al Mandhari, Undersecretary for Health Planning and Regulation in MoH. Dr Samira bint Musa al Maimani, Acting Director General of Health Services in Muscat governorate, said the complex reflects the ongoing development of Oman's healthcare sector. 'This project is part of our efforts to provide high-quality healthcare services that cater to both citizens and residents. It represents a significant step towards improving the quality of life, raising healthcare standards, and enhancing prevention and health awareness.' The facility offers a wide range of primary healthcare services, including general medicine, chronic disease management, blood pressure and diabetes care, asthma treatment and maternity care. It also provides specialised services such as early detection of non-communicable diseases, breast cancer screening, elderly health checks, and smoking cessation programmes. The complex also features secondary clinics for internal medicine, paediatrics, ENT and ophthalmology, and has a laboratory, pharmacy, two examination rooms and a training hall. Currently of 19-bed capacity, plans are in place for future expansion. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
