Economy, Domestic Economy

Omani Firm to Invest $120m

Omani Firm  to Invest $120m Omani Firm  to Invest $120m

Oman’s Sarooj Construction Company will invest $120 million in developing the multi-purpose Sarooj Pars Complex in Kerman in southeast Iran, according to a report published in Times of Oman daily. The total built-up area will be around 60,000 sq m, Simon Karam, director of SCC, has been quoted as saying. “SCC has partnered with WJ Towell in Oman for the project,” he added. “Currently, we hold a 50% share and WJ Towell also holds a 50% share. There is a lot of interest from Omani investors who want to join us, and we do not mind squeezing ourselves to make room for others.” Karam said a three-star hotel and an office block will be constructed during the second phase of the project, adding that the complex will have three levels but the hotel’s height may go up to five levels. “The first phase is expected to take two to three years,” he said.