Oman: Sharakah, Oman’s SME development company, has signed a Memorandum of Understanding (MoU) with Ocean of Majan International Commercial Services LLC, the company behind the Bagpak brand of industrial packaging solutions.
The partnership is aimed at supporting SMEs operating in key industrial sectors and strengthening local packaging manufacturing capabilities. Under the agreement, Ocean of Majan has secured a Shariah-compliant financing facility from Sharakah to enhance its working capital and support the expansion of its manufacturing and supply operations.
Bagpak, established in October 2022, focuses on the production and supply of polypropylene (PP) packaging solutions for industrial applications. Its portfolio includes PP woven bags, FIBC jumbo bags, and cement bags, which are used across sectors such as cement, sugar, petrochemicals, food production, mining, and logistics.
Ali Ahmed Muqaibal, Chief Executive Officer of Sharakah, said, “Supporting SMEs that strengthen Oman’s industrial ecosystem remains a key priority for Sharakah. Our collaboration with Ocean of Majan International Commercial Services enables a growing local manufacturer to expand its capabilities and deliver reliable packaging solutions to multiple industries that are essential to the country’s economic development.”
Falah Ali Al Kaabi, representative of Ocean of Majan International Commercial Services LLC, added, “Sharakah’s financial support comes at an important stage in our growth journey. The working capital facility enhances our ability to manage production cycles, maintain consistent supply, and respond effectively to the increasing demand for durable industrial packaging solutions in Oman.”
The agreement reflects ongoing efforts to strengthen localised packaging supply chains and industrial resilience in Oman.