Oman is planning to build a new industrial zone within a strategy to attract local and foreign investment in the manufacturing sector to diversify its oil-reliant economy, an Omani newspaper said on Tuesday.

The zone has an area of around 6 million square metres and is located in the Northwestern Ibri city near the border with the UAE, the Arabic language daily Al-Watan said, quoting Saif Al-Badi, a board member in the Oman Chamber of Commerce and Industry.

He said the zone would be built by the Public Establishment for Industrial Estates (Madayn), which manages industrial zones in the Gulf country.

"Land has already been allocated for this project which is intended to attract local and foreign capital to expand the manufacturing sector in the Sultanate," he said, adding that the zone would house several light and medium industries.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

#Oman #Construction #Manufacturing #PublicEstablishmentforIndustrial Estates(Madayn)

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