OQ, the Oman-based energy investment group, has announced that three companies will start production in early 2025 at Ladayn Polymer Park, representing a combined investment of US$42mn
They include Oman’s Madayn Plastic Company (MAPCO), which will produce Form Fill Seal (FFS) bags; M.A.K Sohar, a German company renowned for their expertise in developing high-performance chemical solutions which will focus on TPE and engineering compounds designed to meet the evolving needs of polymer manufacturers; and Multibond Metal LLC, a Chinese-Indian joint venture which will focus on advanced polymer solutions for heat resistance and surface protection.
Ladayn Polymer Park, established two years ago with the aim of bolstering Oman’s position as a regional leader in plastics manufacturing, has now secured 16 agreements valued at almost US$155mn, across various applications in packaging, construction and advanced polymer solutions.
“This milestone demonstrates the transformative potential of Ladayn Polymer Park in fostering local manufacturing, creating jobs, and driving Oman’s economic growth. By enabling the production of finished plastic products locally, we are not only reducing our reliance on imports but also positioning Oman as a regional hub for innovation and sustainability in the polymer industry,” said Sadiq Hassan Al-Lawati, managing director of OQ Marketing.
“Our partnerships with investors like MAPCO, M.A.K Sohar, and Multibond Metal LLC highlight the strategic importance of Ladayn Polymer Park in the region. Through initiatives like these, we are creating an integrated ecosystem that supports value-added manufacturing, addresses global challenges, and enhances Oman’s industrial capabilities,” said Mundhar Al Rawahi, Ladayn Park program leader.
Supply contracts
The companies have established supply contracts with OQ, ensuring consistent access to high-quality raw materials at competitive prices which, along with the strategic geographical advantage to markets through Sohar Port and the economic incentives of Sohar Freezone, have made Ladayn Polymer Park an attractive location for companies looking to expand in the region.
“We are strategically positioned with access to emerging markets in West Asia and Africa. In addition, the park’s bespoke incentives, advanced infrastructure, and dependable raw material supply from OQ create a thriving environment for businesses to succeed,” added Al-Lawati. “We look forward to welcoming more investors and partners to the park in 2025.”
Located in Sohar Industrial City, Ladayn Polymer Park spans an area of more than one million square metres, and is a joint initiative between OQ, the Public Establishment for Industrial Estates (Madayn), the National Programme for Investment and Export Development (Nazdaher) and the Ministry of Commerce, Industry, and Investment Promotion. It is designed to support economic diversification policies and attract investment, in line with the objectives of Oman Vision 2040, develop local industries and promote Omani goods and services, thereby boosting job creation and skills development, especially in the plastics industry, and creating new opportunities for small and medium enterprises (SMEs).
Production gets underway at Ladayn Polymer Park
Three companies will start production at the Park this year. (Image source: OQ)
