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ONEIC says it anticipates realizing substantial profits from this contract, further solidifying its position as a leading engineering and construction firm in Oman
MUSCAT: In a filing to the Muscat Stock Exchange (MSX), Oman National Engineering & Investment Company (ONEIC), a publicly traded Omani contractor, has announced that it has been awarded a significant contract for the construction of a 132kV/33kV power station in Sohar Free Zone. The contract, valued at RO 4.8 million, was awarded by Sohar Titanium (FZC) LLC on December 25, 2023.
ONEIC says it anticipates realizing substantial profits from this contract, further solidifying its position as a leading engineering and construction firm in Oman.
Sohar Titanium, a subsidiary of Minerals Development Oman (MDO), is building a first of its kind titanium dioxide on a 120,000 sq meter site in Sohar Freezone. The project, entailing an investment of RO 43 million , targets a production of 150,000 tonnes of titanium dioxide per annum. It will transform raw materials into the vital ingredients for everyday products like paints, plastics, and even toothpaste. Scheduled to launch by 2025, Sohar Titanium promises to be a game-changer for Omans industrial diversification goals.
Sohar Titanium is a strategic partnership between MDO (35%), Dubal Holding Company, and Stork International Group through the Gulf Titanium Company. This powerful synergy blends Omani expertise with international know-how, ensuring world-class technology and best practices underpin every aspect of the plant. |
