Welcome to Oman Chromite Company(S.A.O.G)
The mountains of Oman are rich in mineral deposits. Copper ore is being mined in the northern Oman. The ore is processed into electrolytically refined copper cathodes for export. Gold and silver are produced as by-products for export. The Sultanate has also started mining chromite and exporting since early 80's. Geological and geophysical surveys have also revealed deposits of asbestos and thin beds of manganese. Gypsum and limestone are being exploited for the cement factories and exported. High quality marble is being quarried at several locations and marble products are exported. Oman is rich in high quality quartzite of grade SiO2 99%.
Aggregates for the construction Industry is gaining importance for exports to GCC countries.
Oil wealth of Oman:
The main source of revenue is oil. Oman's proven oil reserves are 5.5 billion barrels as on 1996.
Gas is the second major source of income for Oman. Natural gas is being exported. Oman Government has own vessels for exporting natural gas.
Infrastructure in Oman
Oman's economy has grown dramatically over the past two decades. The backbone of this economy, as of any other, is a reliable and efficient system of transport and communication. Today Oman has facilities that are comparable with the best in the world.
· An excellent urban network of roads to most Middle East countries.
· An international airport at Seeb with extensive air cargo facilities and domestic.
· Airport at Salalah. Sohar airport in under construction.
· A number of domestic terminals at important centers such as Salalah, Musandam, Masirah, and Sur.
· Ultra modern port facilities at Port of Sohar, Raysut and Sultan Qaboos Ports.
· Sohar has developed as an industrial hub.
The Sultanate of Oman is one of the most progressive countries in the Middle East. A fast developing nation with a high per capital income and tremendous business potential, it is the ideal destination for corporations on the look out for investment opportunities.
Attractive fiscal incentives and liberal government policies create just the right climate for new investments. Some of these special incentives are:
· Exemption from income tax for a 5 year period renewable for a future 5 years.
· Relief from import duty on raw materials and machinery for five year period.
· Full repatriation of capital, earnings, profit and royalties.
· Stable and freely convertible Omani Rial protects investment returns.
· Fully serviced Industrial Estates across the country offer investors a comprehensive infrastructure that's needed to set up a manufacturing base.
· The Muscat securities Market (MSM) has gained a reputation as one of the most active market in the Gulf. It is regarded as the potential source of new capital for the private sector and is the driving force in the Sultanate's current development phase. It plays a fundamental role in expanding the investment base and promoting wider ownership of assets.
· The Government gives top priority to education and vocational training. Oman has all the essential ingredients for professionally trained workforce, abundant local talent and easy access to skilled and disciplined labour.
· The Sultanate enjoys the benefits of a stable economy. The Oman Rial is pegged to the US Dollars and is freely convertible.
· Free Zone. Sohar Industrial port corporation has a dedicated Free Economic Zone to attract foreign investment. It offers enormous facilities packed with concessions.