Volume of Investment in Raysut Industrial City tops half a billion

Oman Wednesday 20/March/2024 18:41 PM
Volume of Investment in Raysut Industrial City tops half a billion

Salalah: The cumulative investment volume in the projects of the Raysut Industrial City reached 563 million.

After the addition of eight new projects worth OMR84 million, the number of investment projects in the city reached 192 in 2023.

Eng. Abdulqadir Salim Al Balushi, Director General of Raysut Industrial City, told Oman News Agency that investment projects at the city covered industrial, service and commercial activities.

He added that industrial projects (a total of 159) occupy the largest area in the industrial hub and provide employment to 4,156 workers, with an Omanisation rate of 38 percent.

Al Balushi pointed out that Raysut Industrial City signed an investment contract for a project to produce digital currencies. “The first phase of the project occupies an area of 20,000 square metres with foreign investment worth OMR80 million,” said Al Balushi, noting that the project was in line with the government’s approach to digital transition.

He added that Raysut Industrial City seeks to attract more investments to provide job opportunities for citizens, indicating that the Public Establishment for Industrial Estates ‘Madayn’ is working to raise the efficiency of services and infrastructure to keep pace with growth and improve the business environment.

He explained that the stages of development of Raysut Industrial City in 2019 included the development of the infrastructure for the second phase with an area of 1,141,948 square metres. He added the development of the third phase of the city in 2021 included the establishment of the road network and basic services for the city.

Al Balushi confirmed that Raysut Industrial City has been contributing to advancing industrial development in Dhofar Governorate for more than 30 years by creating an appropriate investment environment, as there is a residential complex with integrated facilities to provide an ideal and modern environment for companies’ workers and a civil defence centre. It provides its services to companies and factories, following up on the implementation of security and safety procedures and responding quickly to emergency situations.