Vale, one of the world’s largest mining companies, situated at Sohar Port and Freezone, is celebrating this month, its tenth year of operations in Oman.
Vale launched the initial stages of its industrial complex at Sohar in April 2011, marking a high point in an era of big-ticket industrial investments. The project highlighted the Sultanate's strategic geopolitical location in the Middle East and the distinctive advantages of Sohar as a logistics hub and maritime gateway, reported Oman News Agency (ONA).
Sohar, a unique deep-water port in Oman, is one of the very few ports in the Middle East capable of receiving even Vale's Largest 'Valemax' Vessels, which have a 400,000-ton transportation capacity. In addition to making a sizable contribution to the country's Gross Domestic Product, the venture has also delivered significant benefits in jobs, value addition opportunities, in-country value initiatives, and community development projects.
Vale's investment in Oman is a paradigm of the successful convergence of Vale's strategic goals, the Omani government (represented by OQ Company), and Sohar Port and Freezone.
Adriano Mansk, Vale Oman CEO, stated: “Vale’s operations in Oman are a result of a dynamic partnership with OQ and Sohar. Thanks to these key partners, Vale is meeting and surpassing its operations and business targets. The Omani government is a strategic partner that has contributed to its success by facilitating a smooth transition into the country and allowing Vale to develop its business operations seamlessly. Besides that, SIPC has acted as an efficient and logistical partner helping to connect our maritime terminals in Brazil to customers in the region."
Over the course of 10 years, Vale has invested over $380 million with local companies during the project phase (2009-2011), which cost $2 Billion and more than $1.2 billion investments with local companies from 2012 – 2020 as part of supply chain development. In addition, it has invested over $10 million in sustainable and social responsibility projects between 2013 and 2020, as well as more than $85 million in ensuring environmentally friendly operations.