Nizwa Industrial City signs pact to set up project worth OMR6mn

Business Wednesday 31/August/2022 16:05 PM
By: Times News Service
Nizwa Industrial City signs pact to set up project worth OMR6mn

Muscat: Nizwa Industrial City, which falls under the umbrella of the Public Establishment for Industrial Estates (Madayn), has signed an investment pact with Asas Drilling Solutions to set up a project for manufacturing, repair and maintenance services for machinery and equipment used in the oil and gas industry.

The project will be established on an area exceeding 14,000 sqm with an investment value touching OMR6 million. The agreement was signed by Ahmed Al Hajri, Director General of Nizwa Industrial City, and Khalid Al Busaidi, Project owner.

Commenting on the project, Al Hajri said that this value-adding project will serve the oil and gas industries, promote their growth, and provide them with a wide range of advanced tools and equipment that are used in drilling oil and gas wells.

Al Hajri added that Madayn is currently developing the infrastructure as part of the expansion project in phases 3 and 4 in Nizwa Industrial City on an area of one million sqm. Most of the road connection works, electrical connections, and remaining excavation works are currently being completed.