Oman Paves the Way for Solar Power with Groundbreaking Polysilicon Project

This massive project, valued at over RO 520 million (US$1.3 billion), boasts a projected annual production capacity of 100,000 tons of polysilicon. The ceremony, held under the patronage of H.E. Sultan Salim Al Habsi, the Minister of Finance, signifies a major step forward in Oman’s commitment to renewable energy.

Strategic Advantages:

• Value Chain Development: The project strengthens Oman’s downstream and renewable energy sectors by establishing domestic polysilicon production, a critical component for solar panel manufacturing.
• Vision 2040 Alignment: It aligns directly with Oman Vision 2040’s goals of promoting green hydrogen production, reducing solar panel costs, and fostering job creation, particularly through training Omani youth in this growing field.

Governmental Support:

Government officials present at the ceremony reaffirmed their commitment to supporting this venture.

• H.E. Ibtisam Ahmed Al Farooji, Undersecretary of Investment Promotion at the Ministry of Commerce, Industry, and Investment Promotion, emphasized the project’s contribution to attracting foreign direct investment and bolstering local investments, aligning with Oman Vision 2040.
• H.E. Dr. Saleh Said Masan, Undersecretary of Commerce and Industry, highlighted the project’s importance in attracting high-tech industries, a key focus area for the Ministry. He underscored the project’s role in integrating modern technologies within the knowledge economy framework, contributing to Oman’s global competitiveness in technology and industry. Clean energy, particularly solar, is identified as a crucial element of the Manufacturing Strategy 2040.

Impact and Opportunities:

• The RO 520 million investment is expected to significantly boost Oman’s GDP and integrate the country further into the global supply chain.
• This project paves the way for establishing new, modern industries focused on solar energy component manufacturing, leveraging Oman’s substantial potential in this sector.
• H.E. Dr. Mansour Talib Al Hinai, Chairman of the Authority for Public Services Regulation, highlighted the project’s contribution to localizing alternative energy industries. He emphasized its role in creating specialized job opportunities for Omanis and adding value to local projects.

SOHAR Freezone’s Role:

Omar Mahmoud Al Mahrizi, CEO of SOHAR Freezone and Deputy CEO of SOHAR Port, reiterated their commitment to creating a dynamic and inclusive investment environment. Their strategic location and world-class infrastructure aim to attract businesses seeking expansion opportunities in the Middle East and beyond.

The freezone’s Phase 2 infrastructure expansion will provide an additional 675 hectares to meet the growing demand for industrial and commercial space, fostering innovation, collaboration, and long-term success.

This project marks a significant leap forward in Oman’s journey towards a sustainable and technology-driven future. The collaborative efforts of United Solar Holding Inc., the Omani government, and SOHAR Freezone position Oman as a leader in renewable energy development within the region.