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Oman has entered into multiple investment agreements exceeding USD 519 million to develop industrial projects across key economic zones. The investments will be spread across Duqm Special Economic Zone, Salalah Free Zone, and Khazaen Economic City. The projects include manufacturing units for electric vehicle batteries, steel, cement, pipes, adhesives, tile processing, and a pharmaceutical warehouse. This move aligns with Oman’s broader strategy to diversify its economy beyond oil and strengthen its industrial and logistics capabilities through targeted infrastructure development.
Oman’s Public Authority for Special Economic Zones and Free Zones has signed a series of investment agreements for new industrial projects across three major economic hubs in the country. The total value of these agreements exceeds 200 million Omani rials, equivalent to over USD 519.51 million, according to a report by the state news agency. Advertisement
The projects will be developed across the Duqm Special Economic Zone, the Salalah Free Zone, and Khazaen Economic City. These locations are central to Oman’s long-term industrial and logistics strategy, offering integrated infrastructure, port connectivity, and incentives to attract foreign and domestic investors.
The agreements cover a range of industrial activities, including the establishment of factories for electric vehicle batteries, steel production, cement manufacturing, pipe production, adhesive materials, and tile processing. In addition, a pharmaceutical warehouse is also part of the planned developments, indicating a focus on strengthening supply chain and storage capabilities in the healthcare sector.
Authorities indicated through the state media that these projects are aimed at boosting industrial output and supporting economic diversification. Oman has been actively expanding its special economic zones and free zones to reduce dependence on oil revenues and attract investments in manufacturing, logistics, and value-added industries.
The Duqm Special Economic Zone, in particular, has been positioned as a key industrial and maritime hub with ongoing investments in port infrastructure and heavy industries. Similarly, the Salalah Free Zone benefits from its proximity to one of the region’s major transshipment ports, while Khazaen Economic City has been developed as a logistics-focused zone near Muscat.
These agreements build on Oman’s ongoing efforts in recent years to enhance its industrial base by offering investor-friendly policies, streamlined approvals, and access to regional and global trade routes.
Source Reuters
5th Jun, 2025
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