Sohar Port and Freezone has signed a land lease agreement for the establishment of a quartz manufacturing plant with Madhav Surfaces, reports Times of Oman.
The company is a joint venture between Al Khanjar Commercial Agencies, a subsidiary of Khimji Ramdas, and Madhav Ashok Ventures Private Limited (MAVPL) based in India.
Dr Mohammed Nasser Al Zaabi, chairman of the Board of Sohar Port and Freezone and Nailesh Khimji, chairman of the Board of Directors of Madhav Surfaces, representing Al Khanjar Commercial Agencies, signed the agreement.
This project is a continuation of the efforts of SOHAR Freezone to attract various value-added projects that contribute to increasing the economic returns and diversifying technology to drive sustainable development in the Sultanate.
The plant will see a total capital investment of over OMR 3.8 million (USD 10 million) and will take up an area of 20,000 m2 at SOHAR Freezone.
The facility will be primarily used for the manufacturing of quartz slabs and other quartz products using chrome ore and calcined lime from the local market, to be exported to the USA and Europe, alongside the polishing of quartz slabs.
“This agreement marks a new step in the success journey of our investments in the Sultanate, which enjoys a reputation as a stable country for potential projects and investments,” said Khimji.