The Khazaen Economic City in Oman has signed an agreement with biopharmaceuticals business company Opal to establish a factory for the production of biological human vaccines, official sources have said.
The deal was signed in Muscat on Wednesday, and has an outlay of OMR20 million (around $52 million), said the sources.
The first phase of the project is expected to be set up on a total area of 37,000 square meters.
The agreement was signed by Khazaen CEO Salim Al Thuhli and Opal’s Chairman of the Board of Directors, Sa’ad Moosa Al Junaibi.
المدينة الدوائية #بخزائن تحتضن أول مصنع للقاحات الحيوية البشرية في المنطقة وبتكلفة 20 مليون ريال عماني للمرحلة الأولى للمشروع. pic.twitter.com/JUgVB8theC
— Khazaen Economic City مدينة خزائن الاقتصادية (@KhazaenEC) April 6, 2022
Al Thuhli was quoted by the official sources as saying that the project would be the first vaccine factory in Khazaen Economic City.
He added that it targets local and international markets.
The agreement, Al Thuhli added, comes as part of Khazaen’s efforts in attracting local and international investments.