News & Announcements


Australian firm completes divestment of copper projects in Oman.

05-Nov-2020

Australian mining resources development firm Savannah Resources plc has announced that it has completed the sale of its stakes in the Block 4 and Block 5 copper projects in Oman to Force Commodities Ltd, a mining firm listed on the Australian Stock Exchange.

As part of the sale, Savannah will receive 50 million new fully paid ord

Duqm Refinery project set for completion in 2022.

05-Nov-2020

The Duqm Special Economic Zone (SEZAD) has clarified that the construction works of the Duqm refinery project are proceeding according to the set program, with the completion expected to take place during the first quarter of 2022.

It added that the petrochemical complex project has been postponed for the time being.

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Oman’s first major green hydrogen project proposed in Suhar.

05-Nov-2020

Ambitious strategy: The venture is part of a longer-term vision to develop Sohar Port into a global hub for green hydrogen, which can be harnessed to power heavy industries, including steelmaking.

Sohar Port and Freezone has outlined ambitions to set up the country’s first industrial-scale green hydrogen plant at the industrial port on Oman’s Batinah c

Khazaen nears completion of Phase 1 infrastructure works.

04-Nov-2020

Key milestone: First phase opens up 3.2 million square metres of leasable land areas for local, regional and foreign investors.

Khazaen Economic City, Oman’s newest integrated economic city, has achieved an important milestone of completing 96 per cent of Phase 1 of its infrastructural works at the site. A successful mitigation plan has contributed effective

Sohar Port mulls first-ever floating solar power project.

04-Nov-2020

Green initiatives: Qabas, the renewable energy arm of Shell Development Oman, is set to bring a 25MW solar PV based plant into operation at the port and freezone before the end of this year.

Sohar Port and Freezone says it weighing plans to support the development of a floating solar power plant — a novel venture that underscores growing interest in Oman&rsq

Oman moving ahead with privatisation, PPP strategies.

04-Nov-2020

Investor comfort: A statement issued by the Ministry of Finance late last week has sought to reassure local and international investors that an ambitious programme of PPP-based initiatives is on track for procurement and implementation

The Omani government has affirmed its commitment to embracing the Public Private Partnership (PPP) model to deliver infrastructure

Muscat gets ACI Airport Health Accreditation

19-Oct-2020

Muscat International Airport became the first airport in the Middle East to achieve the Airports Council International (ACI) Airport Health Accreditation, based on a programme designed to assist airports by assessing new health measures and procedures introduced as a result of the Covid-19 pandemic.

This certificate recognizes Muscat International Airport’s

Khazaen unveils new incentives package for investors.

05-May-2020

Khazean Economic City has announced a set of promotional incentives for local and foreign investors. Incentives include discounted lease, rent-free period, discounted service fees, exemption from registration and krookie fees until the end of this year.

Khazean Economic City, the newest economic city in the Sultanate, which is being developed on an area of 51 mil

OTF commits funding support to 3 new Omani online start-ups.

19-Apr-2020

The Oman Technology Fund (OTF), the Sultanate’s leading venture capital investment fund, has announced funding support for three Omani new startups that will help strengthen the virtual marketplace at a time when many conventional shops and establishments remain shuttered amid the current lockdown over the novel coronavirus (COVID-19) pandemic.

Tharwa, Drewel and Hadaya join a total of seven

Foreign Capital Investment Law creates new opportunities in Oman.

03-Feb-2020

A number of consultants and investors have said that the Foreign Capital Investment Law will create new investment avenues in the Sultanate of Oman. It will also drive the growth of direct and indirect job opportunities for Omanis, curb hidden trade and support the regulation of the labour market. 

Dr Ahmad bin Abdul Karim al Hooti, a member of the Board of Directors of the Oman Chamber of Com

2020 is a turning point for Middle East economies.

02-Feb-2020

The Middle East economy is expected to recover at an estimated 2.1 per cent in 2020. According to ICAEW’s latest Economic Update, overall improvement in the region will be primarily driven by an uptick in the region’s two largest economies, Iran and Saudi Arabia, following a dire 2019. However, the accountancy and finance body says that the Middle East GDP growth declined modestly in 2019 by 0.5 per cent, down from an estimated growth of 0.7 per cent in 2018

Oman to present maiden review on SDG adoption.

01-Jun-2019

Oman, represented by the Supreme Council for Planning (SCP), is set to present its maiden Voluntary National Review (VNR) at a UN forum in July, highlighting the Sultanate’s plans and efforts to implement the Sustainable Development Goals (SDG) by the year 2030.

The 2030 Agenda for Sustainable Development, adopted in 2015 by all UN Member States including the Sultanate of Oman, provides a sha

Desert agriculture has immense potential in Oman.

01-Jun-2019

Prospects for the sustainable cultivation of prodigious quantities of agricultural and farm produce in vast greenhouses constructed in the arid desert regions of Oman were showcased at a key conference.

The most promising of these was an ambitious initiative spearheaded by majority state-owned oil and gas producer Petroleum Development Oman (PDO). It envisions the application of solar energy to tre

Oman Cables Industry (SAOG) has launched its new logo.

31-Mar-2019

At an official inauguration, Oman Cables Industry SAOG has launched its new logo of rebranding as a reflection of its evolutionary heritage symbolizing the company’s continued development as it advances into a future characterized by further innovation in delivering state-of-the-art energy solutions and offer