Lease
Agreement Inked for Low-carbon Ferrochrome Plant in Sohar Freezone

Sohar,
3 Jun (ONA) — SOHAR Freezone has signed a land lease agreement with Matrix
Alloys (FZC) LLC, a leader in low-carbon ferrochrome production, to build a
state-of-the-art, environmentally friendly ferrochrome plant. The project has
an investment value of RO 3.85 million (USD 10 million).

This
initiative strengthens Oman’s role as a regional hub for sustainable industrial
development and supports the goals of Oman 2050 Net Zero commitment to reduce
carbon emissions and diversify the economy.

The
project will occupy 2.2 hectares within SOHAR Freezone and aims to produce
20,000 tons annually of micro-carbon and low-carbon ferrochrome. The facility
will meet stringent purity and sustainability standards demanded by key markets
including Europe, Japan, South Korea, and India. Utilizing an electric-based
production process that avoids coal and heavy-oil pollution, the plant will
significantly reduce its environmental footprint and operate with zero waste
gas or wastewater emissions. Furthermore, it seamlessly fits into Oman Vision
2040, promoting sustainable industrialization and encouraging foreign
investment to drive long-term economic growth and environmental stewardship.
The first phase is expected to be operational by 2026.

Bailin
Yi, Chairman of Matrix Alloys (FZC) LLC, said, “Launching our first
international ferroalloy plant in SOHAR Freezone offers us a strategic location
with excellent infrastructure, market access, and competitive, stable, and low-cost
energy essential for the energy-intensive smelting processes. We are committed
to delivering premium low-carbon ferrochrome products that support global
stainless-steel producers and promote a cleaner industrial future.”

Mohammed
Al Shizawi, Acting CEO of SOHAR Freezone, stated: “This agreement underscores
the trust that international investors place in SOHAR’s integrated industrial
ecosystem. Matrix Alloys is bringing advanced, sustainable manufacturing
capabilities to our ferroalloy cluster, aligning perfectly with our vision to
attract clean technology investments and strengthen SOHAR Freezone’s position
as a competitive gateway for global trade.”

Matrix
Alloys will benefit from SOHAR’s proximity to raw material suppliers and
customers, as well as direct port access, and a supportive regulatory
environment that reduces operational costs. The plant also plans to secure ISO
14001 and ISO 14067 certifications to ensure full carbon emission traceability
and compliance with international standards such as CBAM, EcoLeaf, and K-ETS.

—Ends/AG