Monday 20 / January / 2025
Muscat: Total investments at Sohar Port and Freezone reached $30 billion, with 2024 alone contributing over $4 billion in new projects. Among the major agreements signed last year were a $1.35 billion polysilicon production facility—the largest of its kind in the Middle East—a $1.6 billion LNG bunkering project utilising solar energy, and a $600 million agreement to establish Oman’s first iron ore concentration plant.
These projects highlight Sohar port’s leadership in advancing innovation, renewable energy, and industrial development.
Sohar Port and Freezone also has demonstrated resilience and growth, with over 3,000 vessel calls recorded in 2024. Besides, the general cargo throughput increased by 77% compared to the previous year and container volumes grew by 15% while ship-to-ship operations rose by 19% highlighting and exceptional operational performance last year.
Sohar Freezone also saw significant achievements as well, with land occupancy reaching 85%, reflecting robust demand from both existing and prospective tenants.
These figures were announced during the annual Business Reception under the theme “Connecting Commerce, Creating Opportunities.” The event highlighted the port’s role as a cornerstone of Oman’s economic development, directly contributing to the country’s diversification goals under Oman Vision 2040.
Commenting on these accomplishments, Sohar Port’s CEO Emile Hoogsteden said: "Sohar Port and Freezone has become a catalyst for Oman’s economic transformation and a model of innovation and sustainability. As we celebrate two decades of growth, we take pride in how the port has built an integrated industrial and logistics ecosystem that attracts forward-thinking investments and drives global competitiveness.”
The Freezone’s strategic growth was further emphasised by Acting CEO Mohammed Al Shizawi, who stated: "Sohar Freezone has established itself as a critical enabler for businesses seeking to thrive in a dynamic and interconnected environment. In 2024, we signed nine agreements covering 130 hectares of land and attracting $1.8 billion in investments, reflecting strong demand and trust in our ecosystem.”
“Our investments in infrastructure, technology, and incentives ensure that all tenants, whether new or established, can unlock their full potential while contributing to Oman’s economic development. The strong demand for land and facilities is a testament to the confidence businesses place in Sohar Freezone as a hub for innovation and growth," he further added.
