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In a landmark event for Oman’s industrial sector, the world’s second-largest polymer production plant has begun construction at SOHAR Port and Freezone. Spearheaded by Universal Fine Chemicals SPC, the project signifies a $300 million investment, set to occupy 240,000 square meters, and marks a crucial advancement in Oman’s economic landscape.
The groundbreaking ceremony, attended by Sultan bin Salim al Habsi, Minister of Finance, and HH Sayyid Faisal bin Turki al Said, showcases Oman’s commitment to technological innovation and sustainable growth. Utilising advanced technologies, the facility will produce essential polyacrylamide and related monomers for industries like energy, agriculture, and wastewater management, addressing global energy and water challenges.
Emile Hoogsteden, CEO of SOHAR Port, commented, “This collaboration not only shapes trade dynamics but also propels Oman’s Vision 2040 forward. It positions SOHAR Port as a leading global exporter of industrial chemicals and reflects our commitment to innovation-led growth and market expansion. By connecting businesses to the world and attracting substantial foreign direct investment from Singapore and China, we enhance the port’s appeal as a premier investment destination. Ultimately, we are diversifying the economy beyond traditional sectors while fostering sustainable development and creating career opportunities for the people of Oman.”
Echo Liu, CEO of Universal Fine Chemicals SPC, said, “By targeting diverse and expansive markets, our partnership will establish a strong foothold in key economic zones and amplify supply chains while attracting relevant industries. This innovative polymer manufacturing plant is poised to leverage SOHAR’s strategic geographic position and logistics capabilities to stimulate economic growth and enhance local trade networks. Furthermore, the project extends its reach beyond regional boundaries, focusing on markets in the GCC, North and South America, and the European Union.”
Success metrics include achieving production targets, innovating manufacturing technologies, and expanding market presence globally. Environmental sustainability is prioritized, with advancements in water treatment and energy efficiency. This initiative underscores SOHAR Port and Freezone’s dedication to global trade and economic development, positioning Oman as a leader in industrial innovation and sustainable progress.
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