Madayn encourages Saudi businessmen to invest in Ibri Industrial City

Madayn encourages Saudi businessmen to invest in Ibri Industrial City

MUSCAT — Minister of Investment Eng. Khalid Bin Abdulaziz Al Falih, accompanied by a delegation, visited Monday the Public Establishment for Industrial Estates — Madayn at its headquarters in the Knowledge Oasis Muscat. Welcoming the delegation, Dr. Saleh Bin Said Masan, undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and chairman of Madayn’s Board of Directors, emphasized on the robust bilateral ties between the Sultanate and Saudi Arabia and the significance of economic integration and trade relations between the two countries. Masan encouraged Saudi investors and businessmen to set up businesses in Ibri Industrial City, which is strategically located on the road leading to the new border between Oman and Saudi Arabia. “Ibri Industrial City will offer significant opportunities for Saudi industries targeting the Omani market and vice versa, and shall feature a variety of industries, most notably the logistics industry,” he said. He informed that the total area of Madayn’s existing industrial cities and those that are under development has touched around 140 million sqm with 2,200 projects operating in these industrial cities, and the number of workforce has surpassed 62,000. “The total investment volume has reached RO6.8 billion in the various industrial