real estate

Madayn inks Ibri Industrial City infrastructure works deal

August 22, 2021

Oman's Public Establishment for Industrial Estates (Madayn) has assigned infrastructure works worth RO9 million ($3.3 million) for Phase One of Ibri Industrial City covering a 3 million sq m area.

By establishing Ibri Industrial City, Madayn aims to achieve its vision in spreading a lineup of industrial cities throughout the sultanate’s governorates, contributing to the advancement of the national economy, and providing direct and indirect job opportunities for the nationals in Al Dhahirah governorate. The project will be implemented within 18 months.

Engineer Nasser Al Mabsali, Director General of Ibri Industrial City said as per the deal Madayn will invest in developing the infrastructure including roads, lighting, water and communication networks, sewage networks, landscaping, and electricity network in coordination with Majan Electricity Company.

Al Mabsali said: 'The strategic location of Ibri Industrial City is a key attraction due to its close proximity to Oman’s oil concession areas. Located about 200 km from Sohar Port and 300 km from Muscat governorate, the industrial city will serve the mining, marble and food investment sectors.'

Ibri Industrial City will comprise a variety of industries ranging from oil and gas services, food industries, building materials, warehouses, and showrooms.

In terms of incentives and privileges granted to investors to boost investment opportunities in Ibri Industrial City, Madayn has announced earlier this year exemption from rental value for a period of two years for all new projects, followed by a reduction in the rental value for a period of three years by 50 per cent for contracts concluded during the period from 2021 to 2024, he added.

He pointed out that once the Rub Al Khali (Empty Quarter) border opens, it will facilitate the movement of goods from Saudi Arabia and the Levant countries, thus activating the warehousing and storage sector, and boosting the volume of exports in marble, foodstuff and other sectors.

Madayn, in coordination with Al Dhahirah branch of Oman Chamber of Commerce and Industry (OCCI), is making efforts to enable and support contractors and suppliers in Al Dhahirah governorate to apply for its projects and services, noted Al Mabsali.

'There are also projects that shall be assigned to the Small and Medium Enterprises registered in Riyada from Al Dhahirah governorate,' he added.

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