Salalah Free Zone eyeing $15bn investment by 2028
Salalah Free Zone, Oman’s first special economic zone development, is hoping to draw in $15 billion worth of industrial, commercial and logistics related investments by the year 2028, according to a report in the Oman Daily Observer.
While SFZ currently has an aggregate investment of $3.6 billion, the first phase of the strategic action plan for the zone’s growth will target increasing that value to $5 billion by the end of 2018.
The second phase of the growth plan, which will extend from 2018 to 2023, will seek to double the investments to $10 billion while also bringing the area under development to a total of 8 km2.
The third and final phase foresees an additional $5 billion in investments to reach the target total investment of $15 billion by the end of 2028.
SFZ’s action plan also envisages a phased approach to the development of the infrastructure and facilities at its location, with one of the key goals being the construction of SFZ’s headquarters.
Besides establishing centres for research, development and designing, the free zone is also planning to build dedicated complexes for target industries and economic activities.