December 10, 2024 [Sohar Port Freezone]- Under the patronage of His Excellency Sultan bin Salim Al-Habsi, Minister of Finance, and with the presence of His Highness Sayyid Faisal bin Turki Al-Said, Chairman of Universal FINE Chemicals SPC, along with a distinguished gathering of officials, SOHAR Port and Freezone witnessed the groundbreaking of the world’s second-largest polymer production plant in SOHAR Port. This project marks a significant milestone in the development of Oman’s industrial sector, reinforcing the country’s position on the global stage for innovation and sustainable development.
The project represents a remarkable investment of USD 300 million and will occupy 240,000 square meters within SOHAR Port, demonstrating a strong commitment to technological advancement and industrial growth. Utilizing advanced technologies, the facility will produce polyacrylamide and related monomers essential for diverse industries, including energy, agriculture, wastewater management, and paper production. This initiative addresses global challenges in energy production and water management while driving innovation-led growth. By strengthening Oman’s position in the global economy, this partnership will also foster the development of downstream industries within SOHAR Port’s Petrochemical Cluster. The plant is expected to commence operation by the first quarter of 2026.
Emile Hoogsteden, CEO of SOHAR Port, commented, “This collaboration not only shapes trade dynamics but also propels Oman’s Vision 2040 forward. It positions SOHAR Port as a leading global exporter of industrial chemicals and reflects our commitment to innovation-led growth and market expansion. By connecting businesses to the world and attracting substantial foreign direct investment from Singapore and China, we enhance the port`s appeal as a premier investment destination. Ultimately, we are diversifying the economy beyond traditional sectors while fostering sustainable development and creating career opportunities for the people of Oman.”
Echo Liu, CEO of Universal Fine Chemicals SPC, said, “By targeting diverse and expansive markets, our partnership will establish a strong foothold in key economic zones and amplify supply chains while attracting relevant industries. This innovative polymer manufacturing plant is poised to leverage SOHAR’s strategic geographic position and logistics capabilities to stimulate economic growth and enhance local trade networks. Furthermore, the project extends its reach beyond regional boundaries, focusing on markets in the GCC, North and South America, and the European Union.”
Success will be measured by achieving target production volumes of polyacrylamide and related monomers, implementing innovative manufacturing technologies, and expanding market share in key global regions. The initiative will also prioritize reducing environmental impact through advancements in water treatment, energy efficiency, and sustainable agricultural practices. This mission aligns with SOHAR Port and Freezone’s strategic objectives, reinforcing their commitment to advancing global trade and economic development while positioning Oman as a hub for industrial innovation and sustainable progress.
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