Marafiq’s ICV contribution crosses $100 million

Marafiq’s ICV contribution crosses $100 million

Marafiq, owned by OQ Group, a subsidiary of Oman Investment Authority, has announced its increased contributions to In-Country Value (ICV) through a group of projects that it manages in the Special Economic Zone in Duqm

The post Marafiq’s ICV contribution crosses $100 million appeared first on The Arabian Stories News.Muscat – Eng. Abdullah bin Mohammed Al Hashimi, Marafiq’s Managing Director, stated that the company’s contribution to the local added value had exceeded $100 million by the end of last year. He stressed that the company is working to increase its ICV contribution by purchasing Omani products, awarding several tenders to local companies, and prioritising small and medium enterprises in their tender bids.

He further explained that the company contributed approximately $55 million in domestic added value in goods made in the Sultanate of Oman, and approximately $36 million in contracts to small and medium enterprises through the Duqm Integrated Power and Water Plant and contributed up to $10 million in value-added projects for the drinking water sector.He pointed out that Marafiq has, over the past years, doubled the production capacity of drinking water to reach 9,000 cubic meters of water per day, and increased the storage capacity to about 22,000 cubic meters.