Khazaen Economic City (KEC) is a unique integrated city to be developed over an area of 51.5 million sqm located in Barka, Oman. Oman Investment Corporation SAOC (OIC), owns a controlling stake in KEC.
KEC will include an inland dry port, logistics facilities, various types of warehouses, truck depots, free zone with tax benefits, commercial and industrial zones, fruits and vegetable markets, automotive markets, residential/mixed-use areas, recreational and retails areas with world-class infrastructure and outstanding facilities and services. Khazaen will be developed in several phases to become an integrated city, located strategically between Muscat, Oman’s capital, and Sohar free zone.
The city is only 45 minutes away from Muscat International Airport and a 2 hours drive away from the Port of Sohar and will have a direct connection to the future railway, making it ideal for multi modal transportation and integrated city.
The city borders will have excellent direct access to major roadways in the North (Batinah Expressway) and the East (Barka-Nakhal Road). The Batinah Expressway connects the city to highways throughout Oman, to the UAE, as well as to Saudi Arabia.
Sembcorp Salalah Power & Water Co SAOG (SSPWC) has invested about USD 1 billion to build, own and operate the Salalah Independent Water and Power Plant (Salalah IWPP) in Oman, which has a 445 megawatts gas-fired power plant and a 15 million imperial gallons (69,000 cubic metres) per day seawater desalination facility. The entire electricity and water output from the facility is sold under a 15-year power and water purchase agreement with Oman Power and Water Procurement Company. The plant has been in full commercial operation since May 2012. It provides 80% of the power and 100% of the water requirements of the Dhofar region. SSPWC is listed on the Muscat Securities Market. OIC is a founding shareholder of SSPWC.http://www.sembcorpsalalah.com.om
Sembcorp Salalah O&M Services Co LLC (SSOMC) provides operations and maintenance services to SSPWC under a 15-year operation and maintenance contract. OIC is a founding shareholder of SSOMC.
Sembcorp Utilities is a leading developer, owner and operator of energy and water assets across five continents worldwide. With facilities of over 10,000 megawatts of gross power capacity and over nine million cubic metres of water per day in operation and under development, Sembcorp Utilities is a trusted provider of essential energy and water solutions to both industrial and municipal customers. Sembcorp Utilities has total assets of over S$19 billion and employs over 8,000 employees.
Takaful Oman Insurance SAOG is the Sultanate’s first full-fledged Islamic insurance company, which was promoted by OIC, ONIDCO, ONIC Holding, National Bank of Oman, Bank Muscat, Bluedoor Investments and T’azur Takaful company (Kuwait). The principle activity of the company is to manage General and Family Takaful activities by adopting a hybrid model of wakala and mudaraba. The company completed an IPO in 2013 and shares commenced trading on the Muscat Securities Market in February 2014. Takaful Oman has four branches in Ibri, Sohar, Nizwa and Salalah.http://www.takafuloman.om
V2 Trenching & Co. LLC (V2T) was established in 2006 as an Infrastructure Services Company based in Oman. OIC is the majority shareholder in V2, a specialist pipeline trenching contractor providing trenching services to the oil & gas, water and telecommunications industries in the GCC with a fleet of 5 heavy trenchers.http://www.v2trenching.com
OIC is a founding shareholder of TMK Gulf International Pipe Industry LLC (TMK-GIPI), the first manufacturer of High Pressure Steel Line Pipes and Casing Pipes in Oman, and the first mill in the MENA region and Indian sub-continent to manufacture high pressure 6”-24” Electric Resistance Welded (ERW) Steel Pipes. It is strategically located in the Sohar Industrial Area, the industrial hub of Oman, on an area of 240,000 sq. meters. TMK GIPI’s annual production capacity exceeds 200,000 metric tons per year. The facility, built with an investment exceeding US$110 million, is designed with a state-of-the-art technology exceeding the stringent international standards required by the oil & gas companies. TMK GIPI is a part of Russia based OAO TMK, one of the world’s leading producer of steel pipes for the oil and gas industry.https://tmk-gipi.tmk-group.com
Octal Holdings SAOC (Octal), established in 2006, is the largest PET resin manufacturer in the Middle East and the largest integrated PET sheet manufacturer in the world. It uses world-first technology to produce clear rigid PET sheet directly from melted PET resin, delivering significant energy savings and enhancements to the quality and clarity of the final product. Octal is strategically located in in the southeast port city of Salalah in Oman. Octal has made capital investments of USD 600 million and built a capacity of one million metric tons per annum of PET sheet and PET resin, and employs over 100 Omani staff. Customers for Octal’s PET resin products include major global brands in Europe and the United States and it is developing further markets including the Middle East, South America and Australasia.www.octal.com
OIC invested in Al Bashayer Meat Company SAOC (Al Bashayer), which is incorporated in 2016 with the objective to ensure Oman’s self-sufficiency in the red meat sector. Al Bashayer will import livestock, fatten them, slaughter them in a ‘state of the art’ abattoir and offer branded quality red meat to the retail and institutional customers in Oman and other potential export markets. The project is expected to start operations in 2018.
In 2006, OIC partnered with two Omani entrepreneurs to create Gulf Energy Services (GEC). GEC acquired controlling stakes in two nascent ventures, Sino-Gulf Energy Enterprises and Integrated Petroleum Services. Since acquisition, these companies have grown remarkably under the management of the entrepreneurs along with the support of OIC. OIC divested its shares in GEC in 2009, as part of a management buy-outhttp://www.gulfenergy-int.com
OIC invested in Al Omania Education Services Company LLC (OESCO) in 2013. OESCO owns and operates three premium bilingual British curriculum schools in Oman under the brand name of Azzan Bin Qais in Bausher, As Seeb, and Sohar areas of Oman. ABQ Schools provide premium education services for K-12 students and has invested in high quality school campuses and educational facilities. OESCO enjoys a well-established brand and excellent reputation, achieved through years of quality education delivery, high academic results of its students and customer satisfaction in the local market. OIC divested its stake in OESCO in 2016.http://www.iskanknowledge.com