Matrix Alloys Signs Landmark Deal with Sohar Freezone for Eco-Friendly Ferrochrome Plant
Deal News | Jun 03, 2025 | Zawya
SOHAR Freezone and Matrix Alloys have entered into a land lease agreement to develop a low-carbon ferrochrome plant, representing a $10 million investment. This plant will cover 2.2 hectares within SOHAR Freezone, targeting production of 20,000 tons of micro-carbon ferrochrome annually. It aligns with Oman's Vision 2040 and 2050 Net Zero goals by promoting sustainable industrial growth and reducing carbon emissions via an electric-based production process. Key markets include Europe, Japan, South Korea, and India. Matrix Alloys benefits from SOHAR’s infrastructure, market access, and competitive energy costs, and plans to secure ISO certifications for carbon emissions traceability. This move strengthens Oman's role as a regional industrial hub.
Sectors
- Manufacturing
- Renewable Energy and Environment
- Logistics and Trade
Geography
- Oman – The entire project and investment are centered around SOHAR Freezone in Oman, making it the geographical focus.
Industry
- Manufacturing – The article discusses the establishment of a ferrochrome manufacturing plant, categorized under the manufacturing industry.
- Renewable Energy and Environment – Matrix Alloys' use of an electric-based production process and commitment to zero emissions aligns with renewable energy and environmental sectors.
- Logistics and Trade – SOHAR Freezone's role as a logistics and trade hub is highlighted, facilitating international trade.
Financials
- USD 10 million – The investment amount for the development of the low-carbon ferrochrome plant by Matrix Alloys in SOHAR Freezone.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SOHAR Freezone | Land Leaser | Government | An industrial and logistics hub in Oman facilitating industrial growth and trade. |
| Matrix Alloys (FZC) LLC | Investor/Developer | Company | A leader in low-carbon ferrochrome production, investing in a plant in SOHAR Freezone. |
| ASYAD Group & Port of Rotterdam | Collaborators with SOHAR Port | Company | Collaborators in the development and operation of SOHAR Port and Freezone. |
| Mohammed Al Shizawi | Acting CEO of SOHAR Freezone | Person | Executive overseeing the integration and industrial growth at SOHAR Freezone. |
| Bailin Yi | Chairman of Matrix Alloys | Person | Leader in Matrix Alloys directing the international expansion into Oman. |