Oman signs 11 agreements worth over OMR27mn to develop new projects

10/12/2025 04:00 AST

The Sultanate of Oman, represented by the OQ Group, has signed 11 new investment agreements with a number of local, regional, and international companies specialised in polymer manufacturing, as part of Ladayn plastics industries projects programme. The total investments exceed OMR27 million, bringing the programme's total investment value to over OMR85 million.

This took place during OQ Group's participation in the 19th Annual Forum of the Gulf Petrochemicals and Chemicals Association (GPCA), currently held in Manama, Kingdom of Bahrain.

This step solidifies a commercial ecosystem that redirects locally produced polymers towards higher value-added industries. This contributes to expanding the 'Ladayn' portfolio, enhancing national capabilities in manufacturing industries, and confirms the growing regional confidence in Oman's role as a reliable and cost-competitive center for manufacturing polymers.

The development of the 'Ladayn' programme also comes through a partnership between OQ Group, the Public Establishment for Industrial Estates (Madayn), and the Public Authority for Special Economic Zones and Free Zones, with support from the Ministry of Commerce, Industry and Investment Promotion. This represents a model for integration between the public and private sectors, enhances value chains, attracts quality investments, supports the growth of small and medium enterprises, and provides specialised job opportunities.

The secure and economically viable availability of locally produced polymers from OQ facilities is one of the most prominent competitive attractions for these investments. Leading these are polyethylene and polypropylene produced at the OQ Polymers Complex in Sohar, which constitutes the primary source of manufacturing polymers in Oman. It converts Omani natural gas into high-demand products, establishing an integrated national value chain that enables manufacturers in the manufacturing sector to benefit from long-term supply stability, transparent pricing, and high logistical efficiency.

The Public Establishment for Industrial Estates (Madayn) signed 5 agreements among these agreements to establish projects in its affiliated industrial cities.

Meanwhile, Salalah Free Zone signed 3 agreements as part of these agreements concerning establishing factories in the zone.

The signing of these agreements comes at a time when the chemicals and petrochemicals sector in the GCC countries is achieving strong performance, with an operating rate of 93 percent, exceeding the global market average, and contributing approximately one-third of the region's industrial GDP, according to the GPCA Annual Report for 2024.

Times of Oman