Muscat: Chinese company Chongqing Electric, through its subsidiary Chongqing Shenzhen (Hong Kong), has officially commenced construction of a major anode materials manufacturing facility in Sohar Free Zone. The project is among the company’s largest overseas production bases and forms part of its broader global expansion strategy to meet rising international demand for lithium-ion battery components.
The project highlights the collaboration between Invest Oman, Sohar Free Zone, the Special Economic Zone at Duqm, and the investing company, reflecting Oman’s growing appeal as a destination for advanced industrial investments. The initiative leverages the Sultanate’s strategic location, world-class logistics infrastructure, and attractive investment incentives.
Her Excellency Ibtisam bint Ahmed Al Farouji, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, described the project as a significant addition to Oman’s advanced manufacturing sector and a testament to the confidence international investors place in the country’s business environment.
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She noted that the investment aligns with Oman’s economic diversification goals and efforts to develop industries linked to modern technologies and clean energy. She added that Invest Oman continues to attract high-value investments, facilitate procedures, and strengthen partnerships with global investors to localise advanced industries and create sustainable economic opportunities.
The project will establish a factory capable of producing up to 200,000 tonnes of anode materials annually, with a total investment of approximately $1 billion. Development will take place in three phases to meet growing global demand for battery materials and support the rapid expansion of clean energy and future technology industries.
Chongqing Electric stated that Oman was selected due to its competitive economic environment, strategic access to international markets, and industrial and logistics capabilities that support renewable energy and high-tech industries.
