Sohar Titanium awards construction contract to ONEIC

Sohar Titanium awards construction contract to ONEIC

Oman National Engineering and Investment Company (ONEIC), a publicly traded Omani contractor, has announced that it has been awarded a significant contract for the construction of a 132kV/33kV power station in the Sohar Free Zone. The contract, valued at $12 million (RO 4.8 million), was awarded by Sohar Titanium, the company said in a filing […]Oman National Engineering and Investment Company (ONEIC), a publicly traded Omani contractor, has announced that it has been awarded a significant contract for the construction of a 132kV/33kV power station in the Sohar Free Zone.

The contract, valued at $12 million (RO 4.8 million), was awarded by Sohar Titanium, the company said in a filing to the Muscat Stock Exchange (MSX).

ONEIC said in a statement that it anticipates realizing substantial profits from this contract, further solidifying its position as a leading engineering and construction firm in Oman.

According to the statement, “Sohar Titanium, a subsidiary of Minerals Development Oman (MDO), is building a first of its kind titanium dioxide on a 120,000 sq meter site in Sohar Freezone.”

The project, entailing an investment of $111 million (RO 43 million), targets a production of 150,000 tons of titanium dioxide per annum. It will transform raw materials into the vital