Skip to content Skip to Search
Skip navigation

Salalah Free Zone in Oman attracts $1.9bn investment

Oman Salalah Free Zone Oman News Agency
Salalah Free Zone in Oman signed five new land lease agreements in the first half of 2023, taking the total number of deals to 127

Oman’s Salalah Free Zone, a subsidiary of Asyad Group, has secured investment worth OMR727 million ($1.9 billion) during the first half of 2023.

Five new land lease agreements were signed during the period, taking the total number of deals to 127 and valued at OMR4.5 billion, the state-run Oman News Agency reported.

The new agreements include a washing powder and detergents factory, ferrous alloys, wrapping paper and textile manufacturing plant, a factory for plastic packaging for health care purposes, a urea and ammonia production project and a data processing and cryptocurrency mining centre.

The free zone is keen to attract private investments in the technology sector and the digital economy, said Ali bin Muhammad Tabuk, CEO of the Salalah Free Zone Company.

The free zone this month reported the opening of a data hosting and cryptocurrency mining project by Exahertz.

Latest articles

Haitham Al Ghais, secretary general of Opec. The organisation has extended its voluntary output cuts, led by Russia and Saudi Arabia

Opec extends voluntary cuts to support oil market stability

Opec+ producers led by Saudi Arabia and Russia have stretched their additional voluntary crude supply cuts for another three months, as the oil bloc strives to support the stability and balance of sluggish markets. Oil prices traded flat Monday morning after a slight spike following the Opec announcement. Brent crude traded around $83.50 per barrel. […]

Aviation IT Shop, Shopping Mall, Person Dubai Airports already uses biometric technology and is preparing to launch a Smart Corridor to speed up boarding procedures airport aviation IT airports airlines investment

Aviation spends billions on IT to improve experience

The aviation sector invested billions into IT in 2023, as companies sought to improve passenger experience, according to a new industry report. Global airports increased their IT spending by 23 percent year on year to almost $11 billion last year, while airlines upped spending by 15 percent to $34 billion, according to the 2023 Air […]

Sellers at the fish market in Jizan, Saudi Arabia. The kingdom brought in regulations in 2021 to curb overfishing

Saudi Arabia and UAE back fishing subsidies ban

The UAE and Saudi Arabia were the only GCC countries to back a failed bid by the World Trade Organization (WTO) to curb subsidies that contribute to overfishing and wider fishing sector overcapacity. It had been hoped that the Agreement on Fisheries Subsidies (AFS), which, according to WTO director-general Ngozi Okonjo-Iweala, has “been on the […]

Tourists in front of the Jabal Al-Mawaqi rock art in Saudi Arabia

PIF and Seera fail to reach agreement on investment

Saudi travel major Seera Group Holding has terminated plans for the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to invest in its subsidiary, Almosafer Travel and Tourism Company. The termination comes after the two companies failed to reach an agreement, Seera said in a statement to the Saudi bourse. The statement clarified that […]