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Sohar Port and Free Zone attracts $27bn in investments

Sohar Free Zone recorded an 11.2 percent year-on-year growth in exports Oman News Agency
Sohar Free Zone recorded an 11.2 percent year-on-year growth in exports

Sohar Port and Free Zone have managed to attract investments worth $27 billion, state-owned Oman News Agency reported, citing a top government official.

Sohar Free Zone recorded an 11.2 percent growth in exports and a 4.2 percent increase in land occupancy year-on-year.

Omar Mahmoud Al Mahrezi, CEO of Sohar Free Zone and deputy CEO of Sohar Port, said that the percentage of land occupancy in the first phase has now reached 75 percent in the free zone in Sohar as a result of the various incentives and advantages it offers to attract foreign direct investment.

He pointed out that the percentage of awarding contracts to local companies has increased by 114 percent, which reflects the port’s and free zone’s steady contribution to the social and economic growth in the country.

Meanwhile, the port’s handling of inbound and outbound goods (total production capacity) increased by 32 percent year-on-year.

The port continued to promote the growth and development of the shipping and logistics sectors in the country, as it recorded a 38 percent growth in the volume of dry bulk cargo, reaching nearly 11.8 million tons, while liquid cargo increased by 28 percent to more than 5 million tonnes.

Moreover, the number of containers handled in the port increased by four percent to reach 188,604.

The port recorded a 60 percent growth in transshipment cargo due to its strategic location and solid reputation, as well as its commitment to providing quality and prompt services to the growing transshipment client base.