Ocean of Majan secures Sharakah financing to scale industrial packaging across Oman’s core sectors

OMAN – Ocean of Majan International Commercial Services, operator of the Bagpak brand, has secured a Shariah-compliant financing facility from Sharakah to expand manufacturing and supply operations.

The funding strengthens the company’s ability to deliver polypropylene-based industrial packaging to cement, petrochemicals, and food processing sectors across Oman.

The memorandum of understanding between Sharakah, an SME development entity in Oman, and Ocean of Majan reflects a strategic push to strengthen local manufacturing capabilities.

Ali Ahmed Muqaibal, CEO of Sharakah, explained that supporting SMEs that strengthen Oman’s industrial ecosystem remains a key priority.

He noted that the collaboration enables a growing local manufacturer to expand capabilities and deliver reliable packaging solutions to industries essential to the country’s economic development.

The Financing: Fueling Growth

Falah Ali Al Kaabi, a representative of Ocean of Majan, explained that Sharakah’s financial support arrives at a pivotal moment in the company’s growth journey.

noted that the working capital facility enhances the ability to manage production cycles, maintain consistent supply, and respond effectively to increasing demand for durable industrial packaging solutions.

The Shariah-compliant structure aligns with Oman’s Islamic banking framework, reflecting the growing availability of financing tailored to the manufacturing sector.

For a capital-intensive industry like packaging, access to working capital can mean the difference between meeting seasonal demand spikes and losing market share to regional competitors.

What This Means for Packaging

Oman’s industrial packaging sector is poised for growth as the country pursues economic diversification under Vision 2040.

The cement industry, a major consumer of woven polypropylene bags, has seen significant expansion with new production capacity coming online.

The petrochemicals sector, anchored by OQ and other major players, requires consistent supply of FIBC and bulk packaging for export markets.

By strengthening Bagpak’s working capital position, the financing enables the company to scale production in lockstep with these expanding industries.

For packaging buyers in Oman, this translates to more reliable local sourcing, reduced import dependency, and shorter lead times, a critical advantage in a region where supply chain predictability remains a competitive edge.

Bagpak: From Launch to Industrial Backbone

Launched in October 2022, Bagpak manufactures polypropylene-based packaging including woven bags, FIBC jumbo bags, and cement bags.

These products serve cement production, sugar refining, petrochemicals, food processing, mining, and logistics. The company’s solutions are designed to meet demanding requirements where durability, load capacity, and consistency are critical.

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