Salalah Free Zone gets the go-ahead
Backers of the planned free zone aim to leverage off the massive success of the Port of Salalah, now believed to be one of the world’s six major global trans-shipment hubs.
H.E. Maqbool Ali Sultan, Minister of Commerce and Industry, has approved a business plan put forward by Hillwood and Salalah Port Services for the Salalah Free Zone development.
The document outlines a complete development plan for the 6,000 acre Salalah Free Zone project. The study includes a competitor analysis, financial projections, and marketing and leasing projections.
“With the acceptance of the Business Plan, and the two Royal Decrees that will soon be completed, we will have the foundation of the concession agreement for the project, which we will immediately begin to draft and circulate for review,” said H.E. Maqbool. “The Government is committed to seeing this project become a reality as soon as possible.”
The Port of Salalah, adjacent to the planned Salalah Free Zone, is believed to one of the world’s six major global trans-shipment hubs. Volumes at the port have grown so fast that the expansion of Berths 5 and 6 is close to going ahead.
This growth has been driven by the port’s geographical location, bang in between the markets of the Gulf, East Africa and Western Asia. The free zone’s location, close to the Port of Salalah, will be one of its major selling points for investors.