Muscat / Cairo, May 27, 2025 — A new joint venture between Egypt’s Arab Metals Company ZEINOX and Oman’s OQ Group will see the launch of a $2.6 million plastics manufacturing plant in the Sultanate of Oman, under the banner of the country’s LADAYN industrial programme.
The agreement, signed during a formal ceremony attended by Abdullah bin Nasser Al-Rahbi, Oman’s Ambassador to Egypt, marks a key milestone in strengthening bilateral economic relations. Al-Rahbi hailed the development as “a reflection of the deepening economic ties between the two countries and a tangible outcome of diplomatic and business collaboration.”
Slated to produce a variety of plastic products for both the Omani market and nearby Arab nations, the facility is expected to contribute to industrial self-sufficiency and expand regional export capacity. It also aligns with Oman’s Vision 2040 strategy aimed at broadening its economic base beyond oil and gas.
ZEINOX Chairperson Maged El-Zeiny emphasized the strategic significance of the project. “This investment creates promising opportunities and reinforces industrial cooperation between Arab states,” he said, noting that the initiative complements ZEINOX’s commitment to regional partnerships and localized manufacturing.
OQ Group, a leading integrated energy and petrochemicals firm, will oversee the initiative as part of its continued efforts to expand Oman’s value chain in polymers and advanced industries. The LADAYN programme, coordinated by OQ alongside public bodies such as MADAYN, has already attracted 18 industrial investments worth a combined $160 million.
“The investment reflects Oman’s strong industrial position in the plastics sector and the increasing appeal of its investment environment,” Al-Rahbi added.
Commenting on the broader implications of the collaboration, Wael Abbas, Vice Chairman of ZEINOX, stated, “This collaboration is part of our ambition to build cross-border industrial partnerships that enhance competitiveness and drive growth.”
Mundher Al Rawahi, who leads the LADAYN programme, reaffirmed its focus on high-impact industrial projects that support Oman’s transition toward a knowledge-driven, diversified economy.
The partnership is seen as part of a growing wave of industrial integration in the Arab region, highlighting how targeted joint ventures are helping countries achieve shared development goals through collaborative manufacturing initiatives.