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Reading: Investments in Ibri Industrial City exceed OMR14 million by mid-2024.
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Gulf Press > Business > Investments in Ibri Industrial City exceed OMR14 million by mid-2024.
Business

Investments in Ibri Industrial City exceed OMR14 million by mid-2024.

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Last updated: 2024/08/24 at 2:15 PM
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Ibri Industrial City in Muscat, operated by the Public Establishment for Industrial Estates, has seen significant progress in its development with total investments exceeding OMR14 million by the first half of 2024. Fourteen projects have been successfully localized within the city, with one project already in the production phase, and four others under construction. Additionally, nine projects have been allocated land for future development. The number of employees in the industrial city has also increased to 20, showing promising growth and potential for further expansion.

Salah bin Nasser Al Alawi, the Director General of Ibri Industrial City, stated that Madayn has completed the first phase of infrastructure development within the industrial city. Out of the total 10 million square meters allocated for Ibri Industrial City, 3 million square meters have been developed in the first phase, including essential roadworks, service network installations such as sewage and rainwater networks, as well as the use of sustainable alternative energy for lighting poles. The city aims to host a variety of industrial, commercial, and service activities, with a focus on industries such as food, paper, and equipment maintenance related to the oil and gas sector. Plans also include the establishment of a commercial area, administrative offices, logistics warehouses, a commercial strip, and a residential area for workers.

An integrated station project is currently underway at Ibri Industrial City, which will include a fuel filling station, a rest stop, and a truck and car service station. This project is aimed at providing essential services for companies, workers, nearby residential neighborhoods, and visitors traveling through the international road leading to the Rub’ al-Khali border crossing with Saudi Arabia. The city is also committed to environmental sustainability, with the recent planting of approximately 500 trees from the Omani environment in collaboration with the Environment Authority in Al Dhahirah Governorate. Ibri Industrial City plans to focus on increasing green spaces in the future to enhance the overall environmental quality of the industrial area.

The strategic location of Ibri Industrial City, at the intersection of key trade routes between the East and the West, presents a unique advantage for investors looking to tap into the region’s economic potential. The city’s proximity to border crossings with Saudi Arabia and the United Arab Emirates further enhances its appeal as a hub for industrial and commercial activities. With the recent opening of the infrastructure project in late February 2024, Ibri Industrial City is now open for investment opportunities, offering a promising landscape for businesses seeking to establish or expand their presence in the region. As the city continues to grow and develop, it is poised to become a key player in driving economic growth and prosperity in the region.

In conclusion, Ibri Industrial City in Muscat has achieved significant milestones in its development, with total investments surpassing OMR14 million by the first half of 2024. The success of the industrial city is evident in the localization of 14 projects, the expansion of the workforce to 20 employees, and the completion of essential infrastructure works in the first phase of development. With a focus on diverse industrial, commercial, and service activities, Ibri Industrial City is poised to attract investors looking to capitalize on its strategic location and promising economic prospects. The city’s commitment to environmental sustainability and enhancing green spaces further underscores its dedication to creating a vibrant and sustainable industrial hub. As Ibri Industrial City continues to evolve and welcome new investments, it is set to play a pivotal role in driving economic growth and development in the region.

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News Room August 24, 2024
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