SOHAR Port and Freezone has signed an agreement with Sohar Steel Rolling to lease approximately 40,000 square meters of land for the construction of a steel rod manufacturing unit at the Freezone. With an estimated total investment of OMR 7 million, the project includes the construction of facilities for melting & smelting in the first phase and steel rolling in the second phase. Anticipated to be in operation towards Q3 of 2023 the project is expected to create considerable opportunities for business collaborations, while adding to the growing number of leased areas in SOHAR Freezone flourishing metals cluster.Sohar Steel Rolling Chief Executive Officer Mr Nimer Elsamna said “With access to raw materials and reliable, affordable energy, SOHAR Freezone offers an ideal environment for us to enhance our competitive position and grow sustainably. We look forward to supporting the development of Oman’s metal manufacturers and production industries, while contributing to its wider economic diversification objectives.” More and more local and international investors are taking advantage of the opportunities for investments at SOHAR thriving, multi-billion dollar metals cluster currently centred on iron and steel production, and ferrochrome and aluminium smelting. Over 50% of SOHAR industrial tenants are primary and secondary metal projects or downstream activities, enticed by the mutual benefits that add value to their operations.