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Merge 104.8 | 20 May 2020
Oman’s Public Establishment for Industrial Estates (Madayn) has signed a memorandum of cooperation with Petroleum Development Oman (PDO) to establish an industrial city within the industrial and logistics complex in Marmul.
As Oman News Agency (ONA) reports, the agreement was signed remotely today [Wednesday, May 20], in adherence to COVID-19 precautions, as Madayn aims to finance, develop, operate and attract investments to the industrial city located in the south, 800 kms from Muscat, within PDO’s concession area.
The agreement was inked by Hilal bin Hamad al-Hasani, Chief Executive Officer (CEO) of Madayn, and Raoul Restucci, Managing Director of PDO.
Hilal al-Hasani, CEO of Madayn, stated that this memorandum of cooperation comes as a continuation of Madayn’s medium and long-term expansion plans through establishing industrial cities and, hence, undertakes efforts along the lines of the government’s future directions based on active cooperation and partnership with the private sector to achieve comprehensive and sustainable economic and social development in the Sultanate.
“This cooperation also comes in line with Madayn’s adopted PPP approach in the field of constructing, managing, and operating industrial and economic areas,” al-Hasani said, adding that: “The industrial city in Marmul is expected to focus mainly in attracting investments in the oil and gas sector. In accordance with the Royal Decree No. 32/2015, Madayn has the role of developing and operating industrial cities in the Sultanate, attracting industrial investments, and providing continued support through regionally and globally competitive strategies.”
In turn Raoul Restucci, Managing Director of PDO, said: “We look forward to cooperating with Madayn in this strategic project. The goal of the industrial and logistics complex in Marmul is to accelerate the development of local manufacturing capabilities while expanding supply chains, which shall support our activities in the southern concession area. Bringing these vital operations closer to our fields will play a role in reducing response time and costs, providing efficiency gains, and help improving safety performance.”
Source: ONA
(Also read: Oman: MoAF announces Omanization of agricultural transport drivers.)
