SOHAR Freezone has today signed a lease agreement with a UK-led consortium that has the potential to drastically reduce the risks posed by commercial and residential fires, reducing losses incurred by businesses and providing safeguards for families and households in the process.

The development will see UK-based Tri-Star Resources, the Oman Investment Fund, and Castell Investments Ltd, work together to develop a robust network of operations capable of producing 20,000 tonnes of refined metal ingots. One of the materials they will produce is antimony trioxide, which is currently used as a flame retardant in a wide range of products, ranging from textiles and furniture to plastic covers designed to reduce the risks caused by car and aircraft engine fires.

Once operational, the plant would mean SOHAR would be home to one of the world’s biggest manufacturing facilities of its kind outside of China. Meanwhile, having taken up an initial offering of 22 hectares, partners under the new joint venture will have the option to develop a further 76 hectares that has been earmarked for a refractory gold sulphide treatment plant. As such, while the 125 jobs are to be created for Omani employees, the actual impact could be much larger.

Speaking at the ceremony, SOHAR Freezone CEO Jamal Aziz shared his excitement at the new deal.

“Having a major antimony manufacturing facility at SOHAR is significant for global, regional, and local economies. It is also good news for our business operations, and will put SOHAR on the map when it comes to metal processing as it adds further value to our ever-growing metals cluster.”

“The low environmental impact of the plant has been well received by local Ministries, meaning we can offer benefits to our customers without negatively impacting our surroundings,” he added.

Construction will commence in 2015, with Tri-Star Resources and the Oman Investment Fund each holding a 40 percent stake in the venture. Castell Investments will own the remaining interests.