(MENAFN- Muscat Daily) Muscat -
India-based Petiva Group is planning to set up a natural sugar factory at Salalah Free Zone with an estimated investment of US$200mn, according to Salalah Free Zone Co.
Salalah Free Zone and Petiva Group have signed a memorandum of understanding (MoU) to set up the factory. The MoU was signed by Ali Tabouk, CEO of Salalah Free Zone and Dr Pandey on behalf of Petiva Group, Salalah Free Zone Co said in a tweet on Monday.
'The investment is worth US$200mn and the factory will create more than 100 jobs. The factory will produce a natural calorie-free, non-genetically modified sugar, the first of its kind in the Middle East,' Tabouk said in the tweet.
He added that Salalah Free Zone is also working on new investments worth more than US$1bn, which will be announced soon. 'The new investments will contribute more than 1,000 direct jobs.'
As per the company's website, Petiva is a next-generation food ingredients startup focused on developing and producing utra low calorie, low GI (glycemic index) sugars present in honey, flower nectar and sugarcane using patented processes.
Petiva's proposed factory in Salalah will be Oman's second sugar production plant. The foundation stone for the sultanate's first sugar refinery project was laid down in September last year at the Sohar Port and Freezone. The construction cost of Oman Sugar Refinery Company's sugar refinery is estimated at US$350mn. The plant in Sohar will have a production capacity of 1mn tonnes per annum according to the highest international standards.
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