Oman’s industrial landscape is set to undergo a transformation with the latest partnership between OQ, the global integrated energy group, and leading manufacturer Multibond Metal. Valued at a whopping $23 million, this groundbreaking collaboration will see the establishment of a state-of-the-art manufacturing facility at Ladayn Polymer Park in Sohar Industrial Estate.
This first-of-its-kind project in the Middle East will focus on producing advanced polymer solutions for heat resistance and surface protection, showcasing Oman’s commitment to developing polymer-based industries and attracting direct foreign investment to the region.
The signing of the agreement took place on the inaugural day of Chinaplas 2024, with prominent figures such as Oman’s ambassador to China Nasser Mohammed Al Busaidi and OQ Chief Executive for Commercial and Downstream Hilal bin Ali Al Kharusi in attendance. The deal, inked by Sadiq Al Lawati, Managing Director of OQ Marketing, and Wei Feng, the Chairman of Multibond Metal, marks a historic milestone in Oman’s industrial journey.
Hilal Al Kharusi, OQ’s Chief Executive for Commercial and Downstream, hailed Multibond Metal’s investment as a significant moment for the country, positioning Oman as a pioneer in producing innovative polymer products. The new facility, powered by raw materials from OQ’s Liwa Plastic Industries Complex, will introduce groundbreaking products such as plastic fire-resistant polymer compounds and protective plastic film.
Ladayn Polymer Park, spanning over a million square meters, is poised to become a premier hub for the polymer industry, fostering innovation and attracting investment across various sectors. With a total investment of $111 million and a promising ecosystem ripe with opportunities for investors, the park is set to revolutionize Oman’s manufacturing landscape and propel the country towards a prosperous industrial future.
