Tires Manufacturing Plant
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Tires Manufacturing Plant
This project presents a strategic investment opportunity to establish a specialized factory for the production of a wide range of high quality tires, including those for cars, trucks, buses, and motorcycles, to meet the growing local and regional demand for reliable and high-performance tires. The project will directly contribute to import substitution, enhance supply chain resilience, and support the automotive and transportation sectors in Oman. It also opens broad opportunities for exports, industrial partnerships, and advanced technology transfer, positioning the Sultanate as a regional hub in this vital industry. To ensure stable returns, a percentage of pre-purchase contracts will be secured with investors who meet the required standards, guaranteeing demand and further strengthening the project’s financial viability.
Location
Suhar Industrial City (Madayn)
Capital
6,545,000 OMR
Payback
6 Years
Duration
1.0 Years
Sector's Highlights
2024
2023
2024
2024
Sector's Incentives
Up to 10 years of corporate tax exemptions for manufacturing projects.
Long-term land leasing options at competitive rates to facilitate industrial growth.
Duty-free imports for machinery, raw materials, and equipment needed for manufacturing.
R&D Partnerships: 40% cost-sharing for Industry 4.0 pilot projects.
Export Acceleration: Customs exemptions for 71 countries across 15 trade agreements.