Oman’s OQ & Madayn unite to set up plastics park in Sohar Industrial City

Oman’s OQ & Madayn unite to set up plastics park in Sohar Industrial City

Oman’s leading global integrated energy company OQ and the Public Establishment for Industrial Estates (Madayn) have signed a Memorandum of Understanding (MoU) to set up a plastics park in Sohar Industrial City with support from Oman Vision 2040 implementation Follow up Unit.

Under this MoU, Madayn has allocated 1 million m2 of land in the Sohar Industrial City for the park to manufacture semifinished and finished high value-added plastic products.

According to the company, “The MoU comes in line with one of Oman Vision 2040’s objectives: achieving a competitive, diversified and integrated economy as the project is envisaged to open major investment opportunities, especially in plastics conversion, with OQ as the major provider of raw materials.”

The plastics industrial park is located 16 km from Suhar Airport, 18 km from Sohar Port, and 20 km from the OQ raw material plant.

The plastics park, equipped with the requisite facilities and offering streamlined processes for ease of doing business, will attract more domestic and international investors in the plastic value chain like raw material suppliers, additive manufacturers, plastic converters, recyclers, and testing facilities.

OQ will remain the major provider of high-quality raw material for plastic-based products required for basic uses as sustainable packaging to specialty uses