Muscat: Today, Sohar Port in the North Al Batinah Governorate marked a significant milestone with the foundation stone laying for a polymer production facility, representing a total investment of OMR 115.4 million (approximately US$ 300 million). Spanning an area of 240,000 square meters within the port, this development is a pivotal advancement for the industrial sector in the Sultanate of Oman, bolstering the country's global standing in innovation and sustainable development.
The event was presided over by His Excellency Sultan bin Salim Al Habsi, Minister of Finance, and was attended by His Highness Sayyid Faisal bin Turki Al Said, Chairman of the Board of Directors of the International Fine Chemicals Company, along with several dignitaries.
The new facility will manufacture polyacrylamide and monomers, which are critical components for various essential industries, including energy, agriculture, wastewater management, and paper production. It aims to tackle global challenges related to energy and water while promoting sustainable industrial growth through innovation.
This project is anticipated to enhance the Sultanate of Oman’s standing both regionally and internationally within the industrial sector, while also fostering the development of downstream industries in the Sohar Port and Freezone's petrochemical complex. The plant is expected to commence operations in the first quarter of 2026.
Emil Hoogsteden, CEO of Sohar Port, emphasized that this collaboration will invigorate global trade dynamics and support the future vision of the Sultanate of Oman. Sohar Port is positioning itself as a premier global hub for industrial chemicals, underscoring its commitment to innovative and rapid growth.
He also noted that the port's connectivity to global markets, bolstered by significant investments from Singapore and China, further solidifies its status as a strategic investment destination.
Echo Liu, the CEO of Global Fine Chemicals, emphasized that the port's strategic location offers enhanced logistical advantages that facilitate the expansion of the plant and bolster supply chains in associated sectors. He highlighted that the project aims to serve various markets, including those in the GCC countries as well as global markets in North and South America and the European Union.
