Public Establishment for Industrial Estates (Madayn) has signed three investment agreements to localise new industrial ventures in the Polyethylene Terephthalate (PET) sector, covering recycled plastics, oil refining, and polymer processing.
The projects will be developed at Al Suwaiq Industrial City over a total area exceeding 11,000 sq m, with initial investments estimated at RO1.6 million ($4.14 million), according to a Madayn statement.
Located in Al Batinah North Governorate, Al Suwaiq Industrial City is the latest addition to Madayn’s portfolio, launched under its phased development plan for 2026–2030. The authority is currently evaluating bids for Phase 1 infrastructure works, which include the construction of internal roads, water, electricity, and sewage networks, along with other essential facilities and services.
The tender also covers the development of greenhouse units to support modern agri-tech solutions, contributing to food security and strengthening agricultural investments and related industries. Implementation is expected to begin in 2026.
Speaking at the signing ceremony held in the presence of CEO Eng. Dawood bin Salim Al Hadabi, officials highlighted that Al Suwaiq Industrial City will offer competitive investment incentives, generate direct and indirect employment opportunities, encourage entrepreneurship, and support non-oil revenue growth.
Madayn noted that the project will help balance regional investment distribution, leveraging Al Batinah North’s strategic location, logistics capabilities, and skilled workforce. The availability of robust infrastructure and support services will be key to fostering industrial and agricultural growth, enhancing the investment climate, and advancing the goals of Oman Vision 2040.