Economy
Salalah Free Zone, Al Naqbi Holding ink $10mn food processing unit deal

Salalah Free Zone Company (SFZCO) and Al Naqbi Group Holding have signed an OMR3.8mn ($10mn) agreement to set up a food processing unit within the free zone. The unit will manufacture 80% of the products for international exports.
In an official tweet, the company revealed that the agreement was signed by Ali Tabouk, Chief Executive officer – SFZCO, and Al Hadi Al Naqbi, Chairman of Al Naqbi Group Holding.

Representational image: The food processing unit, to be set up in Salalah Free Zone, will manufacture 80% of the products for international exports.
The decision to build this unit, which is expected to create job opportunities for locals and add to Oman’s human capital pool, follows the recent statement from SFZCO that said that it aims to create 21, 000 jobs in the next three years on the back of new diversification policies, and expansion plans being implemented in the country that are already attracting major investors to the free zone.
READ: RO 13.4mn Salalah Free Zone building inaugurated by HH Sayyid Asa’ad
The Salalah Free Zone has already attracted foreign direct investments with many major companies setting up shop and investments amounted to US$7.8bn. In July earlier this year, SFZCO had secured OMR13.5mn ($35m) in foreign direct investment from the private sector to develop a food plant that will be fitted by European technology and create 200 jobs in Oman.
In May 2019, it signed a usufruct subcontract agreement for two projects in food and import-export trade sectors with an investment of $19mn. Companies such as DHL, Dunes Oman, PGC Textile Corporation, Salalah Methanol Company, Oman Saltic FZCO, and Hind Aluminium already have a presence in the Free zone.
-
OER Magazines2 months ago
OER, February 25
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, February 2025
-
Economy1 month ago
Is Gold a Good Investment in 2025? A Deep Dive into the Precious Metal’s Future
-
Banking & Finance2 months ago
Sohar International Appoints Abdul Wahid Mohamed Al Murshidi as Chief Executive Officer
-
Energy2 months ago
Oman Gets Its First Hydrogen Refueling Station
-
News2 months ago
Shell Oman Marketing Company Hosts the 1st Lubricants Technology Conference in Muscat
-
News2 months ago
Oman Explores Semiconductor & EV Investments with EONH Private Holdings & Jetour Global
-
News2 months ago
Opinion: Understanding AI’s Ministry of Truth