Khazaen, the newest integrated economic city of Oman, recently signed agreements with two firms who are setting up their operations at the new hub, an Oman Observer report said.
The lease agreement with First Axis Company was signed to develop logistics and warehousing storage facilities for furniture and other products. The group, which owns Muscat Furniture International, has its existing warehousing facilities in Barka Industrial Area besides branches across the sultanate.
First Axis aims to centralise its operations in the furniture sector and has selected Khazaen for consolidating its other businesses as well, which also include construction materials, mattress and seating upholstery, and electrical equipment.
At this stage, First Axis plans to build its own warehouses complex in Khazaen Economic City to meet the storage needs of its furniture and electrical appliances business, thus benefitting from the Khazaen’s strategic location and inter-connectivity to various markets. The agreement was signed by Khalid al Balushi, CEO of Khazaen Economic City and Ahmed bin Jumah al Ajmi, CEO of First Axis Co.
The second agreement was signed with Ishaq Freight & Trade Establishment Company to establish different storage and logistics facilities. Under this agreement, the company plans to build its main operational office in Khazaen Economic City with yards for its various transportation trucks. Additionally, it will also be moving part of its existing fleets from Misfah Industrial Area to Khazaen. The company is specialised in cargo and freight forwarding services industry and is already servicing several major clients across the GCC.—TradeArabia News Service