Ten agreements were signed today in Muscat with small and medium enterprises and local and international companies to localise the manufacturing of basic components used in the manufacture of electrical transformers, with expected investments of about RO15 million, within the “Localise it from Vision to Partnerships” initiative organised by the Authority for Public Services Regulation in cooperation with Voltamp Energy.

The agreements include four agreements with local small and medium enterprises, and 6 agreements with local and international companies, and include the establishment of 7 new factories and the addition of new production lines in two existing factories, which contributes to expanding the local manufacturing base, enhancing local content, and developing supply chains related to the electricity sector. The signing ceremony was held under the patronage of His Excellency Engineer Salem bin Nasser Al Aufi, Minister of Energy and Minerals.

His Excellency Dr. Mansour bin Talib Al Hinai, Chairman of the Public Services Regulatory Authority, affirmed that these agreements represent a practical step in the path of localising strategic industries, enhancing local content, and enabling small and medium enterprises to integrate into industrial value chains, which contributes to expanding investment and production opportunities, raising local added value, and enhancing the competitiveness of the national economy.

His Excellency explained that the rapid growth in electricity, energy, transportation, distribution, renewable energy and green hydrogen projects reinforces the importance of building a national industrial base capable of meeting the needs of these sectors with efficiency, quality and reliability.

His Excellency pointed out that localising the manufacturing of electrical transformer components provides opportunities for knowledge transfer, training national talents, creating quality job opportunities, attracting investments, and developing national institutions. He emphasised that the true value of these agreements lies in their impact on investment, industry localisation, empowering national talents, and providing job opportunities, thus supporting the building of a more diversified and sustainable economy.

For her part, Her Highness Mayan bint Shihab Al Said, Vice Chairperson of the Board of Directors of Voltamp Energy, affirmed that this step stems from national priorities, expressing her confidence that the initiative will be an inspiring success story and a landmark that contributes to the advancement of the electrical components industry in the Sultanate of Oman and the region, and that the success of the initiative will represent the first launch of pioneering national initiatives that extend across various sectors.

The establishment of seven new factories will focus on manufacturing eight essential components of electrical transformers within the Sultanate of Oman, in addition to adding new production lines in two existing factories to manufacture two essential components of electrical transformers.

The projects are expected to be built on a proposed total area of ​​up to 34,000 square meters, and will contribute to providing many job opportunities for Omanis, in addition to indirect opportunities in the sectors related to services and supporting industries, while commercial production of the new projects is expected to begin during the years 2027 and 2028.

The agreements gain economic and industrial importance by expanding the participation of national institutions and attracting local and international expertise and investments. Four agreements with local small and medium enterprises contribute to enabling them to establish new industrial projects and enter more broadly into the value chains related to the electricity sector, while six agreements with local and international companies strengthen the base of investment partnerships, support integration between local and global expertise, transfer knowledge and technologies, and develop industrial and technical capabilities.

Localising these industries also contributes to enhancing the resilience and security of supply chains, reducing reliance on imports and mitigating supply risks and global market volatility, while attracting new industrial investments, developing value-added industries, and enhancing national expertise in engineering, technical, and operational fields. Its impact extends to retaining a larger share of procurement spending within the national economy and building a scalable industrial base capable of expansion and access to regional and global markets.

This initiative is the result of cooperation between the Public Services Regulatory Authority and Voltamp Energy in identifying industrial opportunities that can be localised, stimulating investment in industries related to the electricity sector, and linking the sector’s needs with the opportunities available to investors and national institutions, which contributes to building a more integrated industrial system capable of meeting some of the sector’s needs locally.

The “Localise it: From Vision to Partnerships” initiative represents a step within a broader path to localise industries and supply chains related to public service sectors, and to transform the needs of these sectors into sustainable economic and industrial opportunities, thereby enhancing local economic value, supporting the growth of the industrial sector, and expanding the participation of the private sector in development, in line with the objectives of “Oman Vision 2040”.