Khazaen city masterplan to be ready soon
01 July 2019
The detailed masterplan of Khazaen Economic City (KEC), a new 52-million-sq-m integrated economic city in Barka, Oman, will be unveiled soon by its master developer.
Khalid bin Awadh Al Balushi, CEO of KEC, was quoted by Oman News Agency as saying that work on the detailed designs of the city has reached a very advanced stage. The first construction contracts will be awarded and works will commence in the second half of this year, he said.
The announcement came shortly after the first investment agreements were signed with an international investor to set up two production plants in Khazaen.
One of the projects is by Hema Leading Line, which will make products based on blending petrochemical raw materials for road and building applications. The second project, being set by Muscat Manufacturing and Industries, will manufacture water disinfecting system products including organic cleaners and antibacterial liquids.
Al Balushi said the Khazaen Economic City is gearing up to sign a number of similar investment agreements in the coming weeks – a sign of the increasing interest from across Oman, the GCC and around the world in its strategic location between Sohar Port and Muscat International Airport.
“Over the last months, we have focused on building Khazaen’s unique selling proposition as the region’s leading new investment destination. This public-private partnership, pioneered by Asyad, is already attracting foreign companies, which will create jobs, enable economic multipliers supporting logistics SMEs (small and medium enterprises) and encourage local raw material refining into value-added products. We are reaping the fruits of our hard work,” Al Balushi added.
Khazaen is the largest public-private partnership (PPP) project in Oman. Phase One of the city will include the first dry port in Oman, a free zone, logistics and industrial complexes, social infrastructure and residential, commercial and entertainment components.
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