Oman’s Khazaen Economic City has signed an agreement with Opal for biopharmaceuticals and business company to establish a factory for the production of biological human vaccines to the tune of RO20 million ($51.7 million).

The first phase of the project will be set up on a total area of 37,000 sq m, reported Oman News Agency (ONA).

The agreement was signed by Salim Al Thuhli, CEO of Khazaen and Sa’ad Moosa Al Junaibi, Chairman of the Board of Directors of Opal for biopharmaceuticals and business company.

Al Thuhli said that this project will be the first vaccines factory in Khazaen Economic City and it targets local and international markets.

The agreement, Al Thuhli added, comes as part of Khazaen’s efforts in attracting local and international investments.