The Public Establishment for Industrial Estates – Madayn announced the investment opportunity for the private sector to build, manage and operate the shipyard complex in Sur Industrial City for a period of 30 years.

This announcement comes in light of the increasing demand to set up factories for small and medium scale fishing vessels. This also comes in line with the government’s drive to open the way for the private sector to invest in infrastructure facilities, as the Ministry of Agriculture and Fisheries issued a decision to stop granting new licenses to traditional fishing vessels and introduced a programme to support fishermen to switch to modern fishing vessels due to the steady growth in the fisheries sector during the past years. Recognised as the first of its kind in the Sultanate, the shipyard complex project is expected to attract a significant number of investors from the private sector especially with the incentives and facilities offered by Madayn to the investors and business owners.

Granting the development of this project to the private sector comes in line with the government objectives to strengthen cooperation and partnership with the private sector to support its role and contribution to comprehensive and sustainable economic and social development in the Sultanate. The Public-Private Partnership (PPP) approach is also adopted by Madayn in the field of developing, managing and operating the industrial cities and specialised economic zones in accordance with Royal Decree no. 32/2015. The Royal Decree assigns the Public Establishment for Industrial Estates – Madayn to develop and operate the industrial cities in the Sultanate, and attract industrial investments and provide continued support to this sector through regionally and globally competitive strategies.