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GCC Scope > Business > Oman Signs 28 Investment Agreements Worth $790 Million for Industrial Expansion
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Oman Signs 28 Investment Agreements Worth $790 Million for Industrial Expansion

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Last updated: October 30, 2026 9:47 am
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Chairman of the Public Authority for Special Economic Zones and Free Zones Qais Mohammed Al Yousef | Wikimedia Commons
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The Public Authority for Special Economic Zones and Free Zones supervised the agreements, which cover more than two square kilometres and include both new facilities and expansions of existing operations. Industrial cities operated by the Public Establishment for Industrial Estates, known as Madayn, secured the largest share at RO147.6 million. Sohar Free Zone followed with RO58.5 million, the Special Economic Zone at Duqm accounted for RO55.08 million, Salalah Free Zone received RO32.95 million and Khazaen Economic City attracted more than RO10.4 million, according to the authority’s breakdown.

Atlas Steel committed more than RO112 million to build an iron and steel products plant on approximately 440,000 square metres in Sohar Industrial City. Fujian Mancheng Industries and Investment will invest RO20 million to establish a ceramics manufacturing facility spanning more than 241,000 square metres in the same location. In Sohar Free Zone, Sohar Automotive and Advanced Industries Company signed a RO38 million deal to develop an automobile assembly complex across 317,000 square metres that will target vehicle manufacturers and supply chain operators.

Voltamp High Voltage Transformers agreed to invest RO15 million in a plant producing power and distribution transformers on 75,000 square metres in Sohar Free Zone, with plans to export to regional and international markets. Lalan Middle East will expand its medical equipment manufacturing facility with a RO1.5 million investment that adds production, storage and support infrastructure. Additional projects include a RO7 million fertiliser plant in Raysut Industrial City, a shrimp feed production facility in Duqm and initiatives focused on fish canning, used oil recycling and livestock quarantine.

The authority stated that the agreements align with Oman Vision 2040 by supporting economic diversification, expanding industrial output and drawing private sector capital. They form part of the Sultanate’s 11th Five Year Development Plan for 2026 to 2030, which targets 5.9 percent annual growth in the manufacturing sector while strengthening food security and logistics capabilities. Qais bin Mohammed Al Yousef, chairman of the authority, said the deals aim to attract high quality investment, reinforce specialised industries and generate employment opportunities.

Al Yousef added that the projects will contribute to broader goals of reducing reliance on oil revenues through enhanced non oil activities. Several agreements focus on value added processing in fisheries and recycling, areas that complement existing supply chain infrastructure in Duqm and Salalah. The authority indicated that implementation will proceed under its oversight to ensure compliance with environmental and operational standards across all sites.

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