Salalah Free Zone Company (SFZCO) has signed an agreement with Al Naqbi Group Holding to develop a food processing unit within Salalah Free Zone (SFZCO), worth $10m (OMR3.8m), with 80% of the products manufactured within the facility to be exported to international markets.
SFZCO revealed in a tweet on its official Twitter account that the agreement was signed by its chief executive officer, Ali Tabouk, and chairman of Al Naqbi Group Holding, Al Hadi Al Naqbi.
#happening_now@sfzco signs SUA with Al Naqbi Holding Group to establish a Food Processing Plant on 20,000 square meters with an investment worth USD 10 million and provide direct employment opportunities of 200 jobs. Construction will begin before the end of 2019. pic.twitter.com/EtZAbIZu4y— Salalah Free Zone Co (@SFZCO) September 15, 2019
The facility will be located on an area spanning 2ha and create 200 employment opportunities in Oman.
According to SFZCO, construction work on the food processing facility will begin before the end of 2019.
In July 2019, SFZCO secured foreign direct investments (FDI) worth $80m (OMR30.8m) to establish three plants within its free zone, including manufacturing facilities for solar panels and gypsum products.