The Sohar Industrial Port Company SAOC, (SIPC) signed on 29th May, a SUA (land lease agreement) with the Indian Multinational company; Zoom Developers Pvt. Ltd. The agreement was signed by HE Maqbool bin Ali Sultan, Minister of Commerce and Industry and Chairman of the Board of SIPC and Mr. Ashok Sangolli, COO of Zoom Developers. Zoom Developers intend to invest around130 million USD during the next couple of years in constructing a downstream Aluminium manufacturing plant in the Port of Sohar.

The company has chosen the Port of Sohar mainly for its strategic location amongst other reasons. Situated outside the Strait of Hormuz and the connectivity to the hinterland provides further logistics and economic advantage. Port of Sohar being an industrial port offers Zoom Developers access to the facilities needed as well as good connections to the emerging markets of India and Africa. The Port of Sohar is managed by SIPC which is the Port Authority and is a 50/50 joint venture between the Government of Oman and the Port of Rotterdam. An extension to the Concession Agreement between the two parties was signed in 2007 whereby the concession period was extended and now covers a period from 2003 till 2043.

Zoom Developers is one of fastest growing business groups in India, with a well established foothold in various business areas and is represented in many countries around the world. Zoom Developers has its Corporate Office at Mumbai, India.

This business is expected to generate further employment and the company expects to have approximately 750 employees of which 500 are local Omanis.