Oman’s Ambassador to Egypt, Abdullah bin Nasser Al-Rahbi, attended the signing of a strategic cooperation protocol between the Egyptian Arab Metals Company “ZEINOX” and Oman’s “OQ Group”, a leading energy, petrochemicals, and polymers company, to establish a new plastic manufacturing facility in the Sultanate of Oman. The project, set to be implemented under the “LADAYN” program, involves an estimated investment of $2.6 million.
The signing ceremony took place at the Omani Embassy in Cairo during an official event titled “Your Gateway to Investment in the Polymer Industry”, with the presence of senior representatives from both sides. Signing on behalf of the Egyptian side were Eng. Maged El-Zeiny, Chairman of “ZEINOX”, and Youssef Al-Saqri, Co-Founder of ZEINOX Global. From the Omani side, the agreement was signed by Eng. Mundher Al Rawahi, Head of the “LADAYN” program.
Wide Attendance Reflecting Industrial Interest
The signing was witnessed by Dr. Sherif El-Gabaly, Member of the Egyptian Parliament and Chairman of the Chamber of Chemical Industries at the Federation of Egyptian Industries,Dr. Mohamed Al Bahey, Chairman of the Arab Cooperation Committee at the Federation of Egyptian Industries, Eng. Mohamed El-Mohandes, Chairman of the Chamber of Engineering Industries, and Major General Dr. Mostafa Hadhoud, former Governor of Beheira and Professor of Chemical Engineering, alongside a notable presence of business leaders from both countries.
Diverse Product Portfolio and Strategic Location
The upcoming factory aims to produce a wide range of plastic products to serve the Omani market and export to other Arab countries, contributing to regional industrial integration.
Eng. Maged El-Zeiny noted that this initiative is aligned with ZEINOX’s strategy to enhance regional partnerships and support Oman’s local manufacturing goals. He emphasized the investment’s potential to create promising economic opportunities and deepen industrial cooperation.
Ambassador Al-Rahbi: A Milestone in Bilateral Economic Relations
In his remarks, Ambassador Abdullah Al-Rahbi described the event as a milestone reflecting the vibrancy of Oman-Egypt relations. He highlighted that the investment agreement between “ZEINOX” and the “LADAYN” program, executed through “OQ”, is a strong step toward advancing Oman’s plastic industries, a sector where the Sultanate holds a distinct advantage.
He commended the pivotal role of business leaders in translating diplomatic cooperation into viable economic opportunities, in line with Oman Vision 2040 which positions the Sultanate as a premier investment destination. The ambassador also referenced recent landmark partnerships, including a real estate venture with Egyptian businessman Hisham Talaat Moustafa.
Al-Rahbi further expressed his optimism about the growing interest from Egyptian investors in Oman’s market, emphasizing hopes to double the trade volume and strengthen mutual economic growth. He affirmed that these developments align with both Oman and Egypt’s visions for deeper economic cooperation, particularly amid Egypt’s ongoing development boom.
“LADAYN” Program Continues to Attract Investments
Eng. Mundher Al Rawahi, Head of the “LADAYN” program, stated that the initiative—spearheaded by “OQ” in coordination with entities like “MADAYN”—has already led to the signing of 18 investment agreements totaling $160 million. The new partnership with ZEINOX, valued at $2.6 million, is a key addition to Oman’s downstream petrochemical industry.
Al Rawahi praised ZEINOX’s strategic role, noting the Sultanate’s efforts to reduce raw material costs and facilitate industrial land access, which collectively enhance industrial sector growth and investor attraction.
ZEINOX: A Vision for Regional Expansion
Eng. Wael Abbas, Vice Chairman of the Egyptian Arab Metals Company “ZEINOX”, affirmed that the partnership with the Omani side to establish a joint industrial investment aligns with the company’s ambitious strategy to diversify its investment portfolio and build Arab and international partnerships, thereby enhancing the company’s competitiveness and expanding its presence on both regional and global levels.
Eng. Wael Abbas pointed out that the agreement marks the beginning of a fruitful cooperation that will benefit both the Egyptian and Omani sides in achieving Arab economic integration, by localizing key industries and increasing export opportunities, which will enhance product competitiveness and capitalize on the raw materials available in Oman.
A Platform for Deeper Investment Dialogue
Dr. Mohamed Al Bahey, Chairman of the Arab Cooperation Committee at the Federation of Egyptian Industries, commended the agreement for offering a valuable platform for direct engagement between Omani and Egyptian business communities.
Al Bahey revealed ongoing efforts to forge new strategic partnerships aimed at enhancing competitiveness and unlocking broader investment prospects.
Supporting Oman’s Polymer-Based Industrial Ecosystem
“OQ Group” continues to expand its polymer-based industrial value chain both within Oman and abroad, as part of its broader growth strategy. The agreement reflects Oman’s national direction toward supporting transformative industries, localizing advanced technologies, and attracting specialized investments that diversify the national economy—particularly in petrochemicals and value-added manufacturing.
