Foundation laid for integrated chemical complex in SFZ

Progressing in its journey of bringing Foreign Direct Investment (FDI) to Oman, the Salalah Free Zone saw yet another foundation laying of an ambitious project on Thursday. An integrated chemical complex would be developed under the project by Deepak Oman Industries, a company owned by Deepak Nitrite Limited, which is India’s one of the largest public listed chemical manufacturers. This is a joint venture project of Deepak Oman Industries, Oman National Investments Development Company (Tanmia) and Muscat Overseas Group. The foundation laying was done under the auspices of Mohammed bin Salim al Toobi, Minister of Environment and Climate Affairs. According to Salalah Free Zone sources, “The integrated chemical complex would manufacture a range of chemicals, including calcium chloride, sodium nitrite and sodium nitrate. It has plans to produce many more chemicals based mainly on the resources available in the country.” “A significant portion of raw materials consumed by the project will be sourced locally which include ammonia and limestone. The end-products would be consumed by various industries locally and globally in sectors like oil and gas, environment, agriculture and many other industries,” said the source. The project fits perfectly into Oman’s In Country Value (ICV) programme and the products will also be exported in the region and elsewhere, thus generating export earnings to the country. The total investment in first phase of the project is around $120 million. The total volume of production per year is estimated at 225,000 MT per annum of different chemicals. The project will generate employment for locals and is expected to employ more than 100 people. Present during the foundation laying were, Munu Mahawar, Indian Ambassador to Oman; Sheikh Rashid bin Saif al Saadi, Chief Executive Officer of the Oman National Investment Development Company and a large number of Salalah Free Zone and other industry representatives.