Latest news with #Sohar
Zawya
10 hours ago
- Business
- Zawya
Oman: Sohar Freezone signs deal for new ferrochrome plant
Muscat – Sohar Freezone has signed a land lease agreement with Matrix Alloys, a leader in low-carbon ferrochrome production, to build a new 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's 2050 Net Zero commitment to reduce carbon emissions and diversify the economy. The project, with an investment of $10mn, 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. The first phase is expected to be operational by 2026. 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 In a press statement, Bailin Yi, Chairman of Matrix Alloys, 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, said, 'This agreement underscores the trust that international investors place in Sohar Port and 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. As Sohar Freezone approaches full capacity in its initial development phase, this agreement marks a significant milestone in expanding Oman's green industrial base and attracting technology-driven industries to the region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Times of Oman
a day ago
- General
- Times of Oman
Arab Socially Responsible City Award delegation visits Sohar
Sohar: Mohammed Sulaiman Al Kindi, Governor of North Al Batinah, affirmed that Sohar's selection to be Guest of Honour for 2025 Arab Socially Responsible City Award results from concerted efforts by government and private entities, along with civil society organisations, to institutionalise social responsibility as a pillar of sustainable development. This statement came during an official visit by the Regional Network for Social Responsibility to Sohar, coinciding with the city's designation as Guest of Honour for the 2025 Arab Socially Responsible City Award - a professional classification recognising leading Arab cities in community responsibility. Dr. Ali Al Ibrahim, Vice President of the Regional Network for Social Responsibility (CSR), noted that the award represents a pioneering Arab initiative with broad official acceptance, with ten Arab cities honored since its 2014 launch. He emphasised Sohar's selection for the tenth edition acknowledges its leadership in social responsibility, making the award events a turning point for enhancing sustainable practices across multiple projects in the city. Sheikh Mohammed Abdullah Al Busaidi, Wali of Sohar, expressed pride in this recognition, highlighting the crucial role of public/private institutions and community members in supporting sustainable development. He stated Sohar's selection honors all residents and contributors to advancing social responsibility culture, noting ongoing efforts to establish Sohar as a model for sustainable development and organised community work, with continued support for initiatives enhancing societal welfare and realising Oman's vision in this field. The delegation subsequently visited the Children's Exploratory Centre at Falaj Al Qabail Park and the Autism Centre to review services provided for children, followed by a tour of Sohar Port to examine social responsibility projects implemented by various private companies and institutions.
Zawya
a day ago
- Business
- Zawya
Sohar Freezone signs land lease agreement with Matrix Alloys (FZC) LLC for low-carbon ferrochrome 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 USD 10 million, will occupy 2.2 hectares within SOHAR Freezone and aims to produce 20,000 tons 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. Utilizing 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 industrialization and encouraging foreign investment to drive long-term economic growth and environmental stewardship. The first phase is expected to be operational by 2026. Mr. 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'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'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. As SOHAR Freezone approaches full capacity in its initial development phase, this agreement marks a significant milestone in expanding Oman's green industrial base and attracting technology-driven industries to the region. For more information about SOHAR Port and Freezone, please visit: About SOHAR Port and Freezone SOHAR Port and Freezone is one of the world's fastest-growing integrated industrial and logistics hubs, strategically positioned to connect businesses to the world and facilitate trade across diverse sectors. This significant mega-project, a collaboration between ASYAD Group & the Port of Rotterdam, offers a comprehensive range of services, including logistics, petrochemicals, metals, and the region's first dedicated agro terminal. With over 20 years of operation, SOHAR has become the primary gateway for Oman's import and export activities, contributing 2.1% to the nation's GDP and creating nearly 42,000 direct and indirect jobs. The SOHAR Freezone enhances operational efficiencies through synergies in green manufacturing, logistics, and trade. Currently, land occupancy for both phase one and phase two has reached 66%. As of 2024, SOHAR Port has achieved a remarkable throughput of 75.4 million metric tons, rise in roll-on, roll-off (RORO) operations. SOHAR Port is a multifunctional port driving innovation and efficiency in Oman's logistics, marine services, and trade sectors, committed to sustainable development and advanced technology. This modernization aligns with the economic diversification objectives outlined in Oman's Vision 2040.
Zawya
a day ago
- Business
- Zawya
Oman: Strategic credit facility agreement valued at $163mln signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
2 days ago
- Business
- Times of Oman
Strategic credit facility agreement valued at OMR63mn signed
Muscat: In a significant move to advance economic growth and sustainable urban development, Sohar International and Al Mouj Muscat have signed a Memorandum of Understanding for a strategic credit facility agreement valued at OMR63 million to Al Mouj Muscat. This agreement reflects the shared commitment of all parties to support the Sultanate's long-term prosperity through innovation, high-quality urban development, and strong financial stewardship enabled by trusted institutional partnerships. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we take great pride in actively contributing to the Sultanate's infrastructure development, which is central to Oman's broader national growth agenda. Our support for Al Mouj Muscat visionary project through this strategic credit facility reflects our commitment to empowering landmark initiatives that drive economic diversification and position Oman as a leading destination for investment and tourism. As we continue to deliver innovative financial solutions tailored to the ambitions of our partners, we remain steadfast in our vision to offer an integrated banking experience that creates sustainable value for our clients and contributes meaningfully to the national economy.' Structured as a combination of term and revolving loan facilities, the agreement provides Al Mouj Muscat with the financial flexibility to accelerate ongoing and future developments, enhance operational efficiency, and pursue strategic expansion. This support will not only strengthen its diverse portfolio of residential, commercial, and hospitality assets but also enable the delivery of elevated experiences that meet the evolving expectations of its community, investors, and partners—setting new benchmarks for excellence in the real estate sector within the Sultanate. Nasser Al Sheibani, CEO of Al Mouj Muscat, commented: 'Since the inception of Al Mouj Muscat in 2006, we have shouldered a great responsibility to become Omans' premier waterfront development and also a benchmark project for integrated mix-use developments. This agreement with Sohar International is a testament to the strength of our financial position and a clear vote of confidence in our vision for the future of the project'. The facility also underscores the strength and maturity of Oman's banking sector, highlighting the power of national institutional collaboration in advancing economic diversification. With this agreement, Al Mouj Muscat reinforces its foundation to create long-term value and solidify its position as a dynamic hub for lifestyle, leisure, and investment in the Sultanate. This partnership also reflects Sohar International's broader mandate to deliver impactful financial solutions that foster socio-economic progress, generate employment, and attract sustainable investment. By focusing on high-impact sectors, the Bank remains committed to building strategic partnerships that accelerate development and contribute to shaping a resilient and forward-looking national economy.
