China’s Besto Hengda Oman agrees to set up USD 230 mn packaging paper + ferrosilicon plant in Salalah Freezone:The Salalah Freezone has signed an OMR 88.5 mn (USD 230 mn) investment agreement with Chinese silicon industry company Besto Hengda Oman to set up a ferrosilicon and packaging paper production plant, according to a company tweet on Tuesday and Oman’s state-owned Oman News Agency. Salalah Freezone is a subsidiary of Omani logistics firm Asyad Group.

SOUND SMART- Ferrosilicon is a metallic substance composed of iron and silicon and is used for steel making.

The details: The production plant will process ferrous alloys and high-quality recycled wrapping paper. It will be built on 300k sqm and will have a production capacity of 90k tons of ferrosilicon per annum in its first phase and 180k tons in its second phase. The production capacity of packaging paper annually will be 300k tons, according to the news agency. No details were provided on the expected timeline for the project.

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