Mubasher: Oman’s Public Establishment for Industrial Estates (Madayn) has signed an agreement with Oman Investment and Development Holding Company (Mubadrah) under which the latter will manage and develop Rusayl Industrial City.
The deal will be the first of its kind, which will make Rusayl Industrial City the first industrial estate to be managed and operated under the Omani private sector’s regulations, according to an official statement.
“This comes in line with Madayn’s adopted approach to strengthen Public-Private Partnership (PPP), especially in the field of constructing, managing and operating the industrial estates and the economic areas through attracting major developers to all the new industrial estates,” Madayn’s chairman Ahmed bin Hassan Al Dheeb commented.
According to the agreed upon schedule, Madayn’s responsibilities by 2022 will include planning, regulating, monitoring, and following-up, while Mubadrah’s will comprise developing, managing and operating as a main developer in the existing industrial estates, the statement revealed.
“At the same time, Rusayl Industrial City needs to accelerate the pace of its many operations especially those related to the rehabilitation of infrastructure, public utilities and acceleration of the required services,” Mubadrah’s chairman Hilal bin Hamad Al Hasani said.
About OMR 50 million will be pumped next year into the expansion phases in Rusayl Industrial City and the rehabilitation of the completed ones, Al Hasani added.
