Latest news with #SOHARFreezone
Observer
6 days ago
- Business
- Observer
Lease pact signed for environment friendly plant
SUHAR: SOHAR Freezone has signed a land lease agreement with Matrix Alloys (FZC) LLC, a leader in low-carbon ferrochrome production, to build a state-of-the-art, environmentally friendly ferrochrome plant. This initiative strengthens Oman's role as a regional hub for sustainable industrial development and supports the goals of Oman 2050 Net-Zero commitment to reduce carbon emissions and diversify the economy. The project, with an investment of $10 million, will occupy 2.2 hectares within SOHAR Freezone and aims to produce 20,000 tonnes annually of micro-carbon and low-carbon ferrochrome. The facility will meet stringent purity and sustainability standards demanded by key markets including Europe, Japan, South Korea and India. Utilising an electric-based production process that avoids coal and heavy-oil pollution, the plant will significantly reduce its environmental footprint and operate with zero waste gas or wastewater emissions. Furthermore, it seamlessly fits into Oman Vision 2040, promoting sustainable industrialisation and encouraging foreign investment to drive long-term economic growth and environmental stewardship. The first phase is expected to be operational by 2026. Bailin Yi, Chairman of Matrix Alloys (FZC) LLC, said, 'Launching our first international ferroalloy plant in SOHAR Freezone offers us a strategic location with excellent infrastructure, market access, and competitive, stable, and low-cost energy essential for the energy-intensive smelting processes. We are committed to delivering premium low-carbon ferrochrome products that support global stainless-steel producers and promote a cleaner industrial future.' Mohammed al Shizawi, Acting CEO of SOHAR Freezone, stated: 'This agreement underscores the trust that international investors place in SOHAR Freezone's integrated industrial ecosystem. Matrix Alloys is bringing advanced, sustainable manufacturing capabilities to our ferroalloy cluster, aligning perfectly with our vision to attract clean technology investments and strengthen SOHAR Freezone's position as a competitive gateway for global trade.' Matrix Alloys will benefit from SOHAR Freezone's proximity to raw material suppliers and customers, as well as direct port access, and a supportive regulatory environment that reduces operational costs. The plant also plans to secure ISO 14001 and ISO 14067 certifications to ensure full carbon emission traceability and compliance with international standards such as CBAM, EcoLeaf and K-ETS.
Observer
12-04-2025
- Business
- Observer
SOHAR Freezone unveils major expansion plans to meet rising demand
SUHAR: SOHAR Port and Freezone, recognized globally as one of the fastest-growing port and freezone developments, has announced ambitious expansion plans to accommodate the surging demand from prospective tenants. With the first phase nearing full occupancy, the urgency for additional space has become clear, as numerous businesses express keen interest in establishing operations in Oman's thriving economic hub. This expansion is anticipated to yield substantial economic benefits, including an impressive annual throughput exceeding 2.5 million tonnes, over $5 billion in investments, and the availability of 500 hectares of leasable land. Furthermore, it is projected to create between 300 to 700 jobs, increase revenue from land leases, and stimulate local trade, thereby boosting the region's GDP. Significantly, over 85% of the project components will be supplied by local contractors and suppliers, enhancing in-country value. The expansion will commence with the General Design Services Package, paving the way for construction to provide new leasable land for businesses and tenants. The momentum for SOHAR Freezone's expansion has been further strengthened by the issuance of Royal Decree No. 38/2025 by His Majesty Sultan Haitham. This decree enacts the Law of Special Economic Zones and Free Zones, following its presentation to the Council of Oman. The new law fortifies the legal and regulatory framework, making Oman's free zones more competitive and appealing to foreign investment. As SOHAR Freezone moves forward with its expansion plans, it is poised to become a powerhouse of industrial growth and trade, unlocking new avenues for manufacturing, logistics, and innovation, and reinforcing Oman's critical role as a gateway to global markets. Mohamed al Shizawi, Acting CEO of SOHAR Freezone and VP of People and Support Services, remarked, 'This expansion is a key step in enhancing our capacity to support the region's economic growth. As Oman advances towards the goals of Vision 2040, we are committed to building the infrastructure and economic zones that will attract global investments and talent. By strengthening our position as a business hub, we aim to contribute to Oman's long-term economic development and create shared opportunities for growth and prosperity.' Strategically located at the crossroads of global trade routes between Asia and Europe, SOHAR Port and Freezone has successfully attracted over USD 30 billion in investments to date. The freezone features a unique integrated complex with a streamlined management structure, facilitating a seamless flow of business and a bonded corridor between the port and freezone, with a transit time of only 14 minutes for goods. SOHAR Freezone caters to a diverse array of industries, offering essential services such as warehousing and logistics, petrochemicals, general trading, automotive logistics, plastics, chemicals, and metals. This comprehensive service offering positions the freezone as a vital center for both local and international businesses, fostering an environment conducive to growth across various sectors.
