Sohar Port and Freezone records impressive growth in 2024, invests over USD 4 billion in new projects

MUSCAT : General cargo throughput increased by 77 percent compared to the previous year and container volumes grew by 15 percent. Ship-to-ship operations rose by 19 percent.

Sohar Freezone saw significant achievements as well, with land occupancy reaching 85 percent, reflecting robust demand from both existing and prospective tenants.
These figures were announced during the annual Business Reception under the theme ‘Connecting Commerce, Creating Opportunities’. The event highlighted the port’s role as a cornerstone of Oman’s economic development, directly contributing to the country’s diversification goals under Oman Vision 2040.

Total investments at Sohar port reached a USD 30 billion, with 2024 alone contributing over USD 4 billion in new projects. Among the major agreements signed last year were a USD 1.35 billion polysilicon production facility—the largest of its kind in the Middle East—a USD 1.6 billion LNG bunkering project utilizing solar energy, and a USD 600 agreement to establish Oman’s first million iron ore concentration plant. plant.

These projects highlight Sohar’s port’s leadership in advancing innovation, renewable energy, and industrial development.
Commenting on these accomplishments, Sohar Port’s CEO Emile Hoogsteden said: “Sohar Port and Freezone has become a catalyst for Oman’s economic transformation and a model of innovation and sustainability. As we celebrate two decades of growth, we take pride in how the port has built an integrated industrial and logistics ecosystem that attracts forward-thinking investments and drives global competitiveness.”

The Freezone’s strategic growth was further emphasised by Acting CEO Mohammed Al Shizawi, who stated: “SOHAR Freezone has established itself as a critical enabler for businesses seeking to thrive in a dynamic and interconnected environment. In 2024, we signed 9 agreements covering 130 hectares of land and attracting USD 1.8 billion in investments, reflecting strong demand and trust in our ecosystem. Our investments in infrastructure, technology, and incentives ensure that all tenants, whether new or established, can Unlock their full potential while contributing to Oman’s economic development. The strong demand for land and facilities is a testament to the confident businesses place in Sohar Freezone as a hub for innovation and growth.”