MUSCAT, MAY 19
The Ministry of Energy and Minerals (MEM) in Oman has announced a promising set of investment opportunities for domestic companies operating in the mineral sector. Three mining blocks for building materials are up for grabs through a public auction within the Wilayat of Ibra. The auction aims to bolster domestic participation in the crucial construction materials industry.
The mineral site, situated 17 kilometers northeast of Ibra's center, boasts a mountainous landscape rich in gabbro rocks. The Ministry has conducted preliminary studies on the area, identifying three distinct mining blocks (GS-0000023-4, GS-0000023-7, and GS-0000023-12) that will be available for bidding by Omani firms. The bidding process will be conducted electronically on the Taqa platform (https://mem.gov.om/en-us/Home) starting immediately.
Omani companies with a proven track record in mineral sector projects are encouraged to participate. However, to qualify for bidding, they must be registered with the Ministry of Commerce, Industry and Investment Promotion and submit bids that meet the minimum requirements established by Ministry of Energy.
This initiative by MEM signifies a strategic step towards fostering self-sufficiency in Oman's construction materials sector. By offering these mining blocks to domestic companies, the ministry hopes to stimulate local industry growth and reduce reliance on imported building materials. This not only strengthens the national economy but also potentially creates new employment opportunities within Oman.
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