MUSCAT: Oman on Wednesday announced that India’s Petiva Group will build a natural sugar factory at Salalah Free Zone with an estimated investment of US$200mn.
On Wednesday, Salalah Free Zone and Petiva Group have signed a memorandum of understanding (MoU) to set up the factory. The MoU was signed by Ali Tabouk, CEO of Salalah Free Zone and Dr Pandey on behalf of Petiva Group, Salalah Free Zone Co said in a tweet on Monday. This will be Oman’s second sugar production plant.
According to Ali Tabouk, the investment is worth US$200mn and the factory will create more than 100 jobs. “The factory will produce a natural calorie-free, non-genetically modified sugar, the first of its kind in the Middle East,” Tabouk said in the tweet.
Read More
- Jebel View International School: British education respectfully rooted in Omani values
- Oil prices jump on war fears as US eyes possible Iran action
- ABM International School celebrates class of 2026 with Honors, Legacy, and Vision
- Liquidity crunch hits gold demand as Middle East conflict weighs
- Bank Muscat Rewards: The loyalty programme that enhances your everyday experience
He added that Salalah Free Zone is also working on new investments worth more than US$1bn, which will be announced soon. “The new investments will contribute more than 1,000 direct jobs,” he noted.
Earlier, Oman Sugar Refinery Company laid foundation stone for the country’s first sugar factory that is estimated at US$350mn.
