Khazean Economic City (Khazaen) signed its first GCC investment with Saudi Arabia’s Al Watania Al Khalijyah for Paper Products.
Project is Oman’s first of its kind carton plates manufacturing unit with first investment of OMR2 million. The planned facility will have an area of 10,000m2 within the light and medium industrial zone in Khazaen with construction to be completed by end 2020.
Al Watania Al Khalijyah for Paper Products is an ally of Al Watania for Industries Company (Al Watania), which is ranked among the top 100 companies in Saudi Arabia.
The agreement was signed between Khalid Awadh Al Balushi, CEO of Khazaen and Eng. Ibrahim bin Ibrahim Behairi, CEO of Al Watania.
“Today we have achieved a significant milestone for Khazaen as we are delighted to sign with our first GCC investment with Al Watania for Industries to develop the first carton plate manufacturing unit in Oman. This confirms the trust that Khazaen is gaining from local and international investors due to its attractive location, swift access to various logistics gateways across the country and Oman’s investor-friendly climate in general,” said Khalid Awadh Al Balushi,.
“The Sultanate of Oman is known to be an investment-friendly country. Thus, we are confident that our investment in establishing the first factory affiliated to Al Watania to produce carton plates in Khazaen will be a great added value for both parties. We plan to allocate 60 per cent of the factory’s production capacity to meet local demand while exporting the rest to regional markets.” said Eng. Ibrahim Behairi, CEO, Al Watania.