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OQ Group has inked seven investment agreements worth RO 25.5 million ($66.4 million) with local and international firms to establish industrial ventures under the Ladayn Plastic Industries Programme. The initiative, in partnership with Madayn, the National Program for Private Sector Development (Nazdaher), and the Ministry of Commerce, Industry and Investment Promotion, aims to enhance Oman’s manufacturing sector and diversify its economy.
The signing ceremony was held under the auspices of Abdulsalam bin Mohammed al Murshidi, President of the Oman Investment Authority, and Ashraf bin Hamad al Maamari, CEO of OQ Group, alongside other senior officials.
Sadiq bin Hassan al Lawati, Executive Director of Marketing at OQ Group, signed agreements for raw material supply with project developers. Eng Dawood bin Salem al Hadabi, CEO of Madayn, formalized land usufruct agreements with Multibond Metal Company, Sidra International Industries, and National Oasis for 33 years. Additional agreements with Midim Investment Company and Ideal Plastic Company were signed by Mohammed bin Ali al Shezawi, Acting CEO of Sohar Free Zone, and with Ethiopian Ras Peru Company by Ali bin Mohammed Tabuk, CEO of Salalah Free Zone.
“The Ladayn Programme drives industrial investments and creates job opportunities, extending beyond Madayn-affiliated industrial cities,” said Eng Dawood bin Salem al Hadabi.
Sadiq bin Hassan al Lawati emphasised the deals’ potential to bolster Oman’s industrial capacity, boost self-reliance, and expand exports. Khalid bin Saeed al Shuaibi, Head of Nazdaher, highlighted the programme’s comprehensive approach, combining OQ’s material supply, Madayn’s incentives, and Nazdaher’s marketing expertise for industrial development.
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