Raysut Industrial City received 32 investment applications during first half of 2019

Photo credit: Times of Oman

Raysut Industrial City received a total of 32 investment applications of commercial, industrial, and service activities during the first half of this year, according to a statement.

Had bin Hamoud Al Qasabi, Director General of Raysut Industrial City, was quoted as saying that nine projects of the 32 have been localised, while the rest are being subjected to a study and analysis process before any contracts are signed.

He added, “Besides, many of the existing projects at Raysut Industrial City have received additional space and they are currently working to expand their businesses and introduce new production lines.”

According to the Director-General the total investment in Raysut Industrial City – one of industrial cities of Public Establishment for Industrial Estates (Madayn) – touched OMR422,368,159 by the end of 2018 and they were working towards increasing this number in the coming years.

In January earlier this year, Madayn had signed an agreement with Al Hashemi and Al Rawas Trading and Contracting Company to implement the infrastructure development project for Raysut Industrial City (Raysut 2) at a total cost of OMR4mn for an area of one million square meters, which is now underway. “This project shall take into account the use of advanced technologies used for lighting, networks and service system, and is expected to be completed by the end of 2020,” Al Qasabi was quoted as saying.

Raysut Industrial City was inaugurated in 1992 with a space of approximately one million sqm at that time and the total space stood at 3,810,479 sqm as of end of 2018, according to Al Qasabi.

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