Oman hosts $1 billion project for lithium-ion battery materials

The Sultanate of Oman is positioning itself as a regional hub for clean energy and future technologies by hosting a strategic project for the production of anode materials used in lithium-ion batteries. This initiative marks a significant step in the country's integration into global supply chains for the new energy sector.

Zhongke Electric, through its subsidiary Zhongke Shinzoom (Hong Kong), has broken ground on the project, which is set to become one of the company's largest overseas production bases for these critical battery components. The venture is part of Zhongke Electric's global expansion strategy to bolster its capacity to serve burgeoning international markets.

This investment underscores the collaborative efforts between Invest Oman, Sohar Free Zone, and the Special Economic Zone at Duqm. It also highlights Oman's readiness to attract advanced industries, leveraging its strategic location, robust industrial and logistics infrastructure, appealing investment incentives, and strong government-economic zone integration.

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the project represents a qualitative addition to Oman’s advanced industrial sector and reflects the growing confidence global companies place in the Sultanate’s business and investment environment.

Ibtisam bint Ahmed Al Farooji, Undersecretary for Investment Promotion at the Ministry of Commerce, Industry and Investment Promotion, emphasized that the project is a qualitative addition to Oman's industrial sector, reflecting global companies' confidence in the Sultanate's business environment. She noted that the investment aligns with Oman's economic diversification goals, supporting the development of industries linked to modern technologies and clean energy. Invest Oman continues to attract high-value investments by providing enablers, incentives, and facilitating procedures.

The facility will have a planned annual production capacity of up to 200,000 tonnes of lithium-ion battery anode materials. The total investment is estimated at $1 billion, with phased implementation over three stages. Zhongke Electric cited Oman's competitive economic and trade environment, strategic location, and industrial capabilities as key drivers for establishing the project in the Sultanate.

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this investment aligns with Oman’s economic diversification objectives and supports the development of industries associated with modern technologies and clean energy.