Hotpack, Sea Pride sign MoU for integrated packaging complex in Barka

OMAN – Hotpack and Sea Pride have signed a MoU for an integrated packaging complex in Barka, announced at the Inspire Oman Investors Summit 2026 in Muscat as companies outlined industrial, pharmaceutical and waste treatment projects.

The companies described the proposed development as the first of its kind, bringing several packaging solutions together at one site. 

Hotpack was represented by co-founder, group chief operating officer and executive director Zainudeen PB, while Sea Pride Group chief executive Mohammed Ameen Sait and Pride Packaging director Basim Shajahan represented Sea Pride. 

The agreement was among several project announcements covering manufacturing, healthcare, industrial services and environmental management sectors discussed under Oman’s Vision 2040 diversification programme.

Investors Announce Projects Across Three Industrial Zones

Premium Global Group announced a US$10 million semi-refinery and oil-waste management and treatment project in Duqm, planned on 20,000 square metres of allocated land. 

E.M. Badhrudeen and Partners presented an engineering and manufacturing facility involving investment of about 3 million Omani rials (US$7.8 million), with a built-up area of 4,180 square metres. 

AVENZO Pharma outlined plans for an integrated pharmaceutical manufacturing complex in Khazaen Economic City, while Al Fidan Group announced investment exceeding 6 million rials (US$15.6 million) through its premium bathroom solutions brand BIANCA, covering more than 40,000 square metres in the same economic city.

Chamber Chairman Cites Supply Chain Shifts

In an opening address titled “Why Oman, Why Now?”, chamber chairman Sheikh Faisal bin Abdullah Al Rawas said changes in global supply chains, demand for food and energy security, and technological advances were creating opportunities for countries offering stability and access to international markets. 

He noted that Oman’s location connected businesses with Gulf, Asian and African markets, supported by ports, industrial cities and economic zones. 

He also pointed to changes in legislation and regulation, expansion of digital services and simpler business procedures as measures supporting investment, adding that the chamber’s ambition extended beyond attracting capital to partnerships promoting knowledge and technology transfer and sustainable economic value.

India-Oman CEPA Provides Preferential Market Access

The India-Oman Comprehensive Economic Partnership Agreement, which entered into force on 1 June 2026, was presented by Satheesh B. Krishnan, first secretary at the Indian embassy. 

The agreement provides preferential market access and reduces trade barriers between the two countries. 

India’s ambassador to Oman, Prashant Pise, said India’s progress had always been a story of shared progress, noting that economic growth exceeding 7.5 percent despite global uncertainty presented opportunities for Oman through historical ties and maritime proximity.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE