Wooing investments

Hilal bin Hamad Al Hasani

The Public Establishment for Industrial Estates aims to implement a number of vital projects. A master plan has been prepared for Sohar Industrial Estate, taking into account the current seven phases and the surrounding developments, says CEO, Hilal bin Hamad Al Hasani

The Public Establishment for Industrial Estates (PEIE) is witnessing rapid growth giving a significant boost to the manufacturing sector in the Sultanate.

“During the first half of 2016, the total investments touched more than RO6bn. The number of projects in the various industrial estates reached 1,688, of which 277 projects are under construction, and 349 projects have been allotted with lands,” Hilal bin Hamad Al Hasani, CEO of PEIE says adding, “It is expected that a large portion of these projects will initiate their operational processes in the coming period.”

PEIE was able to attract investments valued at RO228mn in the various industrial estates during the first half of 2016. By the end of the first half of 2016, PEIE provided more than 46,000 job opportunities in the existing and new projects, of which 17,000 were Omani cadres. Moreover, the total leased area in the various industrial estates pertaining to PEIE touched 33.2 million square meters during the first half of 2016.

Al Hasani says PEIE aims at implementing a number of vital projects in line with its strategy and vision. “A master plan has been prepared for Sohar Industrial Estate taking into account the current seven phases and the surrounding developments. The master plan covers both basic infrastructure and social welfare such as housing, recreational and commercial facilities, which are required to support the industrial activities,” Al Hasani avers.

The first phase of this master plan involves an analysis of the estate’s current status, an analysis of the current seven phases, an analysis of the usage of lands and infrastructure, among other aspects. The second phase involves preparation of an integrated master plan, determining the industrial sectors and taking into account the usage of lands for each sector, and providing and developing the required infrastructure for each sector while considering the recommendations for potential future expansion areas. The third phase focuses on preparing a detailed plan to develop facilities and services. There is also a study to push the pace of development and assess the viability to localise industrial investments at Sur Industrial Estate. The study also looks at identifying the major investment sectors and the essential infrastructure to mark the estate as an attractive investment destination.

Diversified product portfolio

Shumookh Investment and Services Company, the investment arm of the Public Establishment for Industrial Estates, invested in National Frankincense Products LLC (Oliban). “Shumookh carried out a study on the products of this company, which produces up to 21 products divided into three segments; personal care, health care, and hotel products. Through this investment, Shumookh aspires to support this local brand by directing it towards the right path to achieve its vision in reaching the international markets,” Al Hasani says. The company is targeting Emirati, Qatari and Saudi markets, besides there is demand from Germany and Bahrain to become distribution agencies for Oliban products. Shumookh has also initiated National Centre for Electricity to offer smart and innovative solutions. Since its establishment, the Centre is developing a main strategy to contribute in the advancement of the electricity and energy sector.

Supporting entrepreneurial initiatives

The incubated companies at the National Business Centre (NBC), which falls under the umbrella of PEIE, generated financial returns exceeding RO1.2 mn in 2016. “There are 34 companies incubated in NBC and Riyada with an occupancy rate reaching 77 per cent. These companies have recruited 81 Omani nationals,” Al Hasani informed. NBC is an initiative launched by PEIE at the Knowledge Oasis Muscat (KOM) to offer promising Omani entrepreneurs a platform to develop their business ideas and advance them into growing ventures. The centre offers a premier platform for Omani entrepreneurs by providing business development support and guidance, training and mentoring, access to markets and industry experts, and state-of-the-art and fully equipped office space, meeting rooms and presentation facilities.

 


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