- MoU aims to localize copper cathode procurement, cutting import reliance.
- Supports Oman’s Industrial Strategy 2040 and boosts In-Country Value (ICV).
- The Sohar facility is to produce 12,000 tonnes annually, creating jobs and sustainability.
In line with the initiatives by the Ministry of Commerce, Industry and Investment Promotion (MoCIIP) to boost In-Country Value (ICV) and minimize dependency on imports, Green Tech Mining & Services has entered into a Memorandum of Understanding (MoU) with Nuhas Oman to investigate the localisation of copper cathode procurement.
The signing occurred with H E Dr Saleh bin Said Masan, Undersecretary of MoCIIP for Commerce and Industry, present, along with the Deputy Minister of Finance from Austria and the Austrian Ambassador to Oman.
The MoU seeks to boost reliance on local copper cathode production and decrease imports, benefiting Oman’s trade balance and fostering the sustainability of the industrial sector. Official data shows that Oman’s copper cathode imports totaled around RO25.7mn in the first half of 2025, a decline from RO45.3mn in 2024. This highlights the magnitude of the challenge and the significance of localizing procurement to lessen dependence on external sources.
H E Dr Masan emphasized that the MoU represents national initiatives aimed at fulfilling the goals of Industrial Strategy 2040, which particularly focuses on improving ICV and bolstering the capacity of the industrial sector. “We are advancing the implementation of Industrial Strategy 2040, which focuses on diversifying the economic base, increasing the contribution of manufacturing industries to GDP, and creating a supportive environment for sustainable industrial investment,” he stated.
Eng Khalid bin Salim al Qasabi, the Director General of Industry at MoCIIP, stated that the MoU is based on the accomplishments attained in the first half of 2025, which feature the inauguration of Green Tech Mining’s facility in Sohar, projected to achieve a production capacity of 12,000 tonnes per year by 2026. The initiative will aid in the creation of a cohesive ecosystem that fosters local copper supply chains.
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Gopalakrishnan, CEO of Nuhas Oman, mentioned that the firm, possessing more than twenty years of experience in manufacturing copper wires and cables, is eager to partner with Green Tech Mining & Services to establish a local copper supply. He stressed that the initiative would greatly increase domestic value, generate new employment opportunities for Omani youth, and promote sustainable industrial growth.
Ernst Grissmann, Chairman of Green Tech Mining & Services, said, “We are pleased to partner with Nuhas Oman, reflecting our commitment to supporting Oman Vision 2040 and strengthening in-country value. Our cooperation aims to reinforce national supply chains, create quality opportunities for Omani youth, and enhance resource efficiency, thereby contributing to a more sustainable and diversified economy.”