MUSCAT: Salalah Free Zone Company and Larsen & Tubro Oman signed an OMR15 million agreement to improve the basic infrastructure and provide facilities at Salalah port.
The agreement was signed by Eng. Awadh bin Salim Al Shanfari, CEO of Salalah Free Zone Company and G R Ranganath, CEO of Larsen & Toubro.
As per the terms of the agreement which extends for 30 months, Larsen & Toubro will implement the infrastructure for the Zone starting from next April at Adhan site – first stage. This will enhance the investment utilities in the Zone by availing 212 hectares of investment sites that will be ready to receive investments.
During the signing ceremony, there has been a video presentation on the vital role played by Salalah Free Zone in supporting the growth of national economy and attracting foreign investments. The video also highlighted the strategic location of Salalah Port at the international maritime routes and the marketing programs for Salalah Free Zone at the international markets.
It is worth mentioning that the size of investments in Salalah Free Zone is estimated at RO 1.5 billion through 23 usufruct agreements signed with investment companies for projects that will stretch over 2.6 million square meters.
The Omanization rate at the Zone is 28%, higher than the stipulated rate. The number of direct jobs at the Zone as of the end of 2014 stood at 1485.
