Skip to content Skip to Search
Skip navigation

Oman’s Khazaen Economic City investment hits $821m

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

Waste To Energy Biogas plant with solar, battery station and E-car charging station

African renewables are ripe for investment, says Irena

Africa accounted for less than 1 percent of the new renewable energy sources added globally last year, and a conference in Abu Dhabi this week called on wealthy investors to help the continent achieve its targets. Amani Abu Zeid, commissioner for infrastructure and energy of the African Union Commission, told the International Renewable Energy Agency […]

Saudi Arabia Ronnie O'Sullivan snooker

Ronnie O’Sullivan to be Saudi snooker ambassador

Saudi Arabia has signed a deal with the world’s top snooker player, Ronnie O’Sullivan, for him to act as an “ambassador” for the sport in Saudi Arabia.  It was announced alongside news that Saudi Arabia has become an official sponsor of the World Snooker Championship that begins this weekend in Sheffield, UK. Under the three-year […]

A man wades through a flooded street in Dubai. Some areas of the UAE received more than a year's worth of rain in one day

UAE president orders review after flooding

The UAE’s president, Sheikh Mohamed bin Zayed Al Nahyan, has ordered an urgent review of the country’s infrastructure after historic levels of rainfall brought the Gulf state to a standstill, with some areas seeing more than a year’s worth of rain in one day. The president has contacted authorities “to quickly work on studying the […]

Visitor numbers to Lebanon for the first 10 months of 2023 were up 21% on 2022 but there is currently 'no significant traffic' from the West

Beirut airport arrivals drop as Westerners stay away

The daily arrival rate at Lebanon’s only functioning international airport is down by 4 percent year on year in the first quarter of this year, according to Marwan Haber, the head of Middle East Airline’s (MEA) commercial division. Speaking at the Horeca hospitality conference in Beirut on Tuesday Haber said 95 percent of arrivals were […]