Muscat, Salalah Free Zone (SFZ) today signed two land development (usufruct) agreements to the tune of USD 89 million to establish a unit for petrochemical products and a workshop for the maintenance and repair of containers.

The first agreement sets up a multifunctional unit to treat petrochemical products. This project is worth USD 88 million and it will be built on a total area of 78,000 square meters.

The second agreement, to build a workshop for the maintenance and repair of containers, provides for transforming and designing containers in the shapes of houses, restaurants, workshops and rooms based on international standards. This USD 1 million project will cover a total area of 3,000 square meters.

The two agreements will contribute to the national economy by creating direct job opportunities. The factory’s petrochemical products will be handled through Salalah Port which will enhance the performance of the maritime transport sector.

SFZ offers economic incentives for investors, particularly tax exemptions and complete ownership of projects. The SFZ also boasts a strategic position next to Salalah Port.

Source: Oman News Agency