Khazaen signs OMR7mn pact to set up polyethylene with with KV Group

Khazaen signs OMR7mn pact to set up polyethylene with with KV Group

Muscat: Khazaen Economic City, Oman's newest, and most integrated business destination has recently signed a landmark agreement with KV Group International to set up a polyethylene packaging factory and a commercial facility in the city. The OMR7 million worth of investment signed with KV Group International will enable the investor to build a state-of-the-art polythene packaging plant in the industrial zone on a total land area of 40, 000 m2 and also to construct the first hypermarket in the city, spread over 5, 500m2 in the commercial block. The hypermarket will cater to the Khazaen community as well as early commercial tenants. Commenting on the agreement, Khalid Al Balushi, Chief Executive Officer of Khazaen Economic City said, "Khazaen continues to grow with the arrival of more investors thus reiterating its status as the most promising economic hub, and its march towards its objectives of enhancing the growth of the national economy." "Khazaen is gaining in position as an emerging and preferred location for the establishment of different types of businesses due to its strategic location. We have an excellent pipeline of investors who are eager to lease out different types of plots at the city. We are looking forward for