$300m polymer plant breaks ground at Sohar Port free zone
MUSCAT, 17 days ago
Oman’s Sohar Port and Freezone has announced the groundbreaking of a polymer production plant being set up at a total investment value of RO115.4 million ($300 million) in partnership with Universal Fine Chemicals.
The project, which will come up on a 240,000 sq m area within Sohar Port, marks a significant milestone in the development of Oman’s industrial sector, thus reinforcing the sultanate’s position on the global stage for innovation and sustainable development.
Sultan Salim Al Habsi, Minister of Finance, led the ground-breaking ceremony which was attended by several top officials including Sayyid Faisal Turki Al Said, the Chairman of Universal Fine Chemicals.
According to Sohar Port and Free Zone, this partnership will foster the development of downstream industries within its petrochemical cluster. The plant is set for commercial operations by the first quarter of 2026.
Once operational, the facility will produce polyacrylamide and related monomers essential for diverse industries, including energy, agriculture, wastewater management, and paper production.
This initiative addresses global challenges in energy production and water management while driving innovation-led growth.
Emile Hoogsteden, CEO of Sohar Port, said this collaboration not only shapes trade dynamics but also propels Oman’s Vision 2040 forward.
"It positions Sohar Port as a leading global exporter of industrial chemicals and reflects the commitment to innovation-led growth and market expansion. By connecting businesses to the world and attracting substantial foreign direct investment from Singapore and China, we enhance the port’s appeal as a premier investment destination," stated Hoogsteden.
"Ultimately, we are diversifying the economy beyond traditional sectors while fostering sustainable development and creating career opportunities for the people of Oman," she added.
Universal Fine Chemicals CEO Echo Liu said: "By targeting diverse and expansive markets, our partnership will establish a strong foothold in key economic zones and amplify supply chains while attracting relevant industries."
"Furthermore, the project extends its reach beyond regional boundaries, focusing on markets in the GCC, North and South America, and the European Union," he added.-TradeArabia News Service
