By A Staff Reporter -
MUSCAT — Vale demonstrated the Sultanate’s competitive advantage in providing a nurturing business environment for Foreign Direct Investments during the recently held Oman Economic Forum.
Commenting on Oman’s industrial outlook, Marcos Beluco, Vale’s Country Manager highlighted the global company’s contributions to Vision 2020, saying “As a private company in the Sohar Industrial Zone, Vale’s $1.36 billion Pelletising Plant and Distribution Center is at the forefront of the Sultanate’s economic diversification process.” He added, “The government’s policies and incentives have fostered an export culture and aided the private sector in adopting an outward-oriented strategic vision, a key factor for the formation of sector clusters.”
During the two-day forum, Najla al Jamali, Vale’s Head of Business and Strategic Affairs showcased how the company’s ‘virtual iron ore mine’ has generated over 4,000 direct and indirect jobs, supported the development of a sustainable supply chain as well as empowered the local community by building capacities and capabilities through social initiatives. She said that the company’s project will create a natural pull for downstream industries which together will form Oman’s robust integrated steel industry.
Al Jamali said, “Increased regional prosperity is achieved by harnessing the potential a country has to offer. The Sultanate’s visionary plan comprises of developing the economic base moving away from oil and gas to include secondary and tertiary sectors such as manufacturing and tourism. Vale is in the business of transforming natural resources into sustainable development. This does not only include the operational aspect of the business but extends to support emerging industries ultimately benefiting the communities surrounding us.”
Vale’s Industrial Complex in Liwa is one of the first green-field projects outside Brazil adopting best practices from the company’s operations around the world with state-of-the-art pelletising and environmentally friendly technologies. Supplying ‘clean’ pellets for steel industries in the Middle East, North Africa and India, Vale’s investments have helped put Oman on the map as a key player in the region’s heavy metals industry.