| Work Detail |
Oman’s Sohar Port and Freezone celebrated the groundbreaking of a polymer production plant with a total investment value of RO 115.4 million (USD 300 million).
This project marks a significant milestone in the development of Oman’s industrial sector, reinforcing the country’s position on the global stage for innovation and sustainable development.
The ground-breaking ceremony was held under the auspices of Sultan Salim Al Habsi, Minister of Finance, at the presence of HH Sayyid Faisal Turki Al Said, Chairman of Universal FINE Chemicals SPC.
The project will occupy a total area of 240,000 square meters within Sohar Port, demonstrating a strong commitment to technological advancement and industrial growth. Utilizing advanced technologies, the facility will produce polyacrylamide and related monomers essential for diverse industries, including energy, agriculture, wastewater management, and paper production.
This initiative addresses global challenges in energy production and water management while driving innovation-led growth. By strengthening Oman’s position in the global economy, this partnership will also foster the development of downstream industries within Sohar Port’s Petrochemical Cluster. The plant is expected to commence operation by the first quarter of 2026.
Emile Hoogsteden, CEO of Sohar Port, commented, “This collaboration not only shapes trade dynamics but also propels Oman’s Vision 2040 forward. It positions Sohar Port as a leading global exporter of industrial chemicals and reflects the commitment to innovation-led growth and market expansion. By connecting businesses to the world and attracting substantial foreign direct investment from Singapore and China, we enhance the port’s appeal as a premier investment destination. Ultimately, we are diversifying the economy beyond traditional sectors while fostering sustainable development and creating career opportunities for the people of Oman.”
On his turn, Echo Liu, CEO of Universal Fine Chemicals SPC, said, “By targeting diverse and expansive markets, our partnership will establish a strong foothold in key economic zones and amplify supply chains while attracting relevant industries. Furthermore, the project extends its reach beyond regional boundaries, focusing on markets in the GCC, North and South America, and the European Union.” |
