(MENAFN- Muscat Daily) Muscat- The Public Establishment for Industrial Estates (PEIE) on Wednesday said its investment arm, Shumookh Investment & Services Co, recently invested in National Frankincense Products LLC (Oliban).
Hilal bin Hamad al Hasani, CEO of PEIE, said Shumookh Investment carried out a study of Oliban, which produces up to 21 products in three segments: Personal care, health care, and hotel products.
'Through this investment, Shumookh aspires to support this local brand by directing it towards the right path to achieve its vision in reaching international markets,' Hasani said in a press release.
Oliban this year is targeting the UAE, Qatar and Saudi markets; besides, there are enquiries from Germany and Bahrain for distribution tie-ups for Oliban products.
According to PEIE, Shumookh has also initiated National Centre for Electricity to offer smart and innovative solutions. Since its establishment, the centre is developing a main strategy to contribute to the advancement of the electricity and energy sector.
The PEIE organised a number of events in 2016 to support the locally manufactured products and motivate consumers, individuals and institutions, to buy and support Omani products.
'PEIE continues its cooperation with Ithraa and the Oman Chamber of Commerce & Industry (OCCI) to organise the upcoming Omani Products' Exhibition (OPEX 2017) in October,' Hasani said.
During 2016, two OPEX events were organised; the first was held in Addis Ababa, Ethiopia, and the second in Tehran, Iran.
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