|
Oman's OQ's Ladayan Project Head, Munther Al Rawahi, on Wednesday said that the company has chosen India as a starting point to promote aluminium downstream, citing strong bilateral ties between the two countries and significant growth potential in the Indian aluminium sector.
Speaking to ANI, Al Rawahi said, "We have just started this sector for aluminium downstream. We began with the plastics sector and have seen significant collaboration between Indian and Omani companies. We already have 28 agreements in plastics, and now we want to replicate the same success in aluminium." Aluminium downstream refers to industries and activities that use primary (raw) aluminium to manufacture finished or semi-finished products, including construction materials, automotive parts, packaging, and electrical components. He added that the company has started promoting the aluminium downstream sector and has chosen India as a "starting point". "We have just started promoting aluminium downstream and have chosen India as a starting point. The reason is simple -- due to the strong India-Oman relationship and the significant potential we see in India's aluminium sector. Indian companies can also benefit from Oman's strategic location," he added. Al Rawahi highlighted that OQ is offering both direct and indirect incentives to attract investment. He also noted that the "strategic location" of the Sultanate is also proven to be an important aspect in attracting investors. "For direct incentives, we are offering security of raw materials at discounted rates, along with land incentives and competitive power tariffs. Our strategic location makes it easy to access major markets from Oman. Additionally, Oman offers strong political and economic stability," he said. OQ's Ladayn Program is Oman's first integrated polymer-to-product industrial ecosystem. The first wave of companies begins production under the programme in 2025. Designed as a strategic hub for advanced manufacturing, Ladayn provides European and global investors access to high-value markets with minimal competition. In two years, Ladayn has signed 26 investment agreements, including ten in 2025 alone, securing commitments exceeding USD 220 million. By the end of 2025, nine companies had started production as Oman turned the industrial concepts into operational projects. (ANI)
|
