MUSCAT: The Oman Investment Authority (OIA) has announced the completion of five national projects with a combined investment value of RO 322.7 million. These projects, distributed across four governorates, span various sectors, reflecting the Authority’s commitment to advancing Oman’s economy in alignment with the Oman Vision 2040 objectives.
The projects include the Manah Solar Power Plant (Phases I and II), the Central Market for Vegetables and Fruits in Khazaen Economic City, the Barka Desalination Plant (Phase Five), the Fish Canning and Value-Added Complex in Duqm, and the implementation of a sewage network in the Sahalnout area (Phase One).
Hisham bin Ahmed al Shaidi, Head of Economic Diversification Investments at OIA, highlighted the significance of the Manah Solar Power Plant, developed by Nama Power and Water Procurement Company in partnership with Ashraq Sembcorp Jinko. With a total investment of RO 150 million, the plant represents a major step towards Oman’s renewable energy goals. The project aims to contribute 10% of the country’s electricity production through renewable energy sources by 2025, helping diversify Oman’s energy mix.
The Central Market for Vegetables and Fruits, developed by Silal, involves an investment of RO 50 million. This facility is set to transform the agricultural and trade sectors by providing advanced infrastructure and integrated logistics solutions, enhancing food security and supporting local products. The market is expected to generate 375 direct and indirect jobs while facilitating private sector companies’ expansion in wholesale import and export activities.
The Barka Desalination Plant (Phase Five), constructed by Nama Water Services Company in partnership with GS Inima Barka 5 Desalination Company, involved an investment of RO 50 million. During the construction phase, RO 21 million was allocated to Omani local content, benefiting small and medium enterprises (SMEs). Once operational, the project will bolster water storage, transportation and distribution capacity, while creating job opportunities for citizens.
In Duqm, the Fisheries Development Oman and International Marine Products Company have established the Fish Canning and Value-Added Complex at a cost of RO 27.7 million. Designed to enhance the value of Omani fish products, the complex will provide 640 direct jobs and aims to generate a 14% annual return on investment for shareholders, contributing significantly to the local economy.
In the service sector, Nama Services Dhofar Company completed the first phase of a sewage network in Sahalnout with an investment of RO 45 million. This project enhances sewage infrastructure, improving the quality of life for residents and supporting the region’s modern urban plans.
These five initiatives form part of OIA’s National Development Portfolio, which focuses on managing local assets and driving Oman’s economic growth while supporting the state budget. — ONA
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