MUSCAT : The Ministry of Commerce, Industry and Investment Promotion, represented by Invest in Oman, said the projects are part of wider efforts to link investment opportunities with the actual needs of economic sectors and transform them into productive projects.

The initiative has resulted in 10 investment agreements covering the localisation of key components used in electrical transformers across Khazaen Economic City, Madayn industrial cities and the Sohar Freezone.

Under the agreements, seven new factories will be established, while additional production lines will be introduced at two existing factories. The projects are expected to expand Oman’s manufacturing base, increase local added value and reduce reliance on imported transformer components.

The agreements were signed on August 12, 2026, under Voltamp Energy’s “Localize It… From Vision to Partnerships” initiative, launched in cooperation with the Authority for Public Services Regulation. The related investment opportunities were made available to investors and the private sector through Invest in Oman.

The projects are based on actual industrial requirements identified by Voltamp Energy and are supported by pre-purchase agreements, providing investors with clearer demand visibility and helping ensure the long-term sustainability of the new manufacturing operations.

A total of 10 key transformer components are targeted for local production. Eight will be manufactured at the new factories, while two will be produced through new lines added to existing facilities.

The projects will occupy an estimated combined area of around 34,000 square metres, with commercial production expected to begin during 2027 and 2028.

Four of the agreements have been signed with Omani small and medium enterprises, while six involve local and international companies. Officials said the partnerships will help strengthen the participation of Omani businesses in energy-sector value chains while bringing specialised industrial expertise and technologies into the country.

Lamia bint Sultan Al Habsi, Assistant Director General of the Directorate General for Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion, said linking investment opportunities with actual industrial demand enhances the attractiveness of Oman’s industrial sector.

She said Invest in Oman is working to identify high-quality opportunities in priority sectors, connect investors with project owners and relevant entities, and support projects from the promotion stage through to implementation.

Al Habsi added that the approach begins by identifying an industrial requirement, converting it into a clear investment opportunity and connecting it with investors before developing the partnerships required to establish factories and production lines in Oman.

Mohammed Ajmal Pasha, CEO of Voltamp Energy Group, said the agreements reflect the company’s efforts to create a more integrated industrial ecosystem in Oman by converting parts of its supply-chain requirements into domestic production capabilities.

He said the progress was made possible through cooperation among Invest in Oman, the Oman Investment Authority, Oman Electricity Transmission Company, Nama Group, Hydrom, the Authority for Public Services Regulation, Madayn and other stakeholders.

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