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Ocean of Majan secures financing to scale industrial packaging
Yahoo Finance· 2026-03-31 14:11
Group 1 - Ocean of Majan International Commercial Services has secured a Shariah-compliant financing facility from Sharakah to support its working capital needs and enhance manufacturing and supply operations [1][2] - The agreement is part of Sharakah's initiative to support small and medium enterprises in key industrial sectors in Oman [2][3] - The financing will enable Ocean of Majan to expand its capabilities in producing polypropylene-based packaging products, which include woven bags, FIBC jumbo bags, and cement bags [3][4] Group 2 - The packaging solutions provided by Ocean of Majan cater to various industries such as cement production, sugar refining, petrochemicals, food processing, mining, and logistics [4][5] - The financial support from Sharakah is crucial for Ocean of Majan at this stage of its growth, enhancing its ability to manage production cycles and meet increasing demand for durable industrial packaging solutions [5]