Venue: Muscat, Oman
OQ signs nine agreements to establish $88-MM industrial projects in the Ladayn Polymer Park in Suhar.
In a related development, The Public Establishment for Industrial Estates ‘Madayn’ also signed seven land usufruct agreements with a duration of extendable 33 years, at reduced prices with investors. These agreements were signed by Dawood bin Salim Al Hadabi, CEO of Madayn. Additionally, Omar Mahmood Al Mahrizi, CEO of Suhar Free Zone, signed an agreement with Gemini Corporation aimed at recycling plastic.
An agreement with Gemini Corporation for plastic recycling and sustainability to manufacture plastic products with an investment of USD 3 million. The agreement was signed by Mr. Surendra Patawari, Chairman of the Company's Board of Directors. Mr. Surendra Patawari, Chairman of Gemini Corporation, said, "We are pleased to sign an agreement with OQ that will contribute to providing raw materials for plastic-based industries in the Liwa Plastics Industries Complex. We chose the Sultanate of Oman as our gateway to this promising future. The Sultanate's commitment to sustainable transformation and business-friendly policies aligns with our goals. Our work goes beyond recycling plastic materials; it's our passion. Gemini Corporation provides international expertise and a steady supply of recycled materials to facilitate the adoption of circular economy principles for current and future companies aspiring to invest in Ladayn Polymer Park”.