PEIE announces new consortium to invest OMR500m in Oman’s industrial estates

September 15, 2014 12:52 am

Chief Executive Officer of Public Establishment for Industrial Estates (PEIE) Hilal bin Hamad Al Hasani, announced a new consortium comprising international and local companies will start functioning early next year with a plan to invest OMR500 million in industrial estates. Hilal made the remarks at the PEIE business opportunities seminar held here on Wednesday under the patronage of Darwish bin Ismail Al Balushi, minister responsible for financial affairs, Times of Oman reported. The seminar, which was part of the Oman Manufacturing Group’s series of seminars, highlighted investment opportunities available for domestic and foreign investment. Al Hasani said that the consortium will function under the management of Shumookh Investment and Services with more than OMR500m. “This consortium aims at investing in the areas of providing infrastructure, superstructure, public utilities, establishment of service centres, and integrated commercial and residential cities in the various industrial estates. This consortium will start functioning in early 2015, which shall be reflecting positively on the provision of employment opportunities and increase of investment size,” he said.