Skip to content Skip to Search
Skip navigation

Oman’s Khazaen Economic City investment hits $821m

By Pramod Kumar
Khazaen Economic City site Oman News Agency
The most prominent investment at Khazaen Economic City was in the logistics sector at OMR60 million, with 20 agreements signed

Total investment in Oman’s Khazaen Economic City reached OMR316 ($821 million) by the end of June 2023.

The foreign and local investment value stood at OMR186 million and OMR130 million, respectively, state-owned Oman News Agency reported.

The number of nationalities investing in the city in the first six months of the year hit 16, with 23 projects under construction.

The most prominent investment was in the logistics sector at OMR60 million, with 20 agreements signed.

As many as 10 pacts were inked in the food sector worth OMR87 million.

Meanwhile, 65 contracts were signed in the industrial sector at OMR92 million.

The number of deals in the pharmaceutical sector reached five, with an investment value of OMR77 million.

Last month, Oman announced plans to establish two new free zones in Khazaen Economic City, which is situated in the governorate of South Al Batinah, as part of the Gulf nation’s aim to attract industrial investments and boost economic growth.

The free zones – one for light and medium industries and logistical activities and the other for business and trade – will be supervised by the government-owned Public Authority for Special Economic Zones and Free Zones, the news agency reported, citing a royal decree.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]