The Diwan of Royal Court (DRC) and Nakheel Oman Development Company today signed three investment agreements within the context of government-private sector partnership.

The agreements, which come in implementation of Oman Vision 2040, seek to augment national income through the endorsement of a diversified economy, empowerment of the private sector and achievement of balanced development among governorates.

The first agreement provides that Nakheel Oman will purchase all products of the One Million Date Palms Project, their derivatives and other byproducts for a period of 30 years.

The second and third agreements deal with leasing of land plots in the wilayats of Barka and Nizwa with a view to setting up investment projects in the field of processing of dates and subsidiary products. The overall aim is to serve industrial sectors currently envisaged by the company like date industries and production of fodder and fertilizers.

In the signing ceremony, the DRC was represented by Abdullah bin Sha’aban al-Farsi, Head of Administrative and Financial Affairs while Sheikh Rashid bin Saif Al Mardhouf al-Sa’adi, Deputy Chairman of Nakheel Oman Company inked the pacts on behalf of his company.

SOURCE: omannewsagency(ONA)