Industrial projects valued at OMR11.2b expected in Duqm
DUQM: Industrial projects worth OMR11.2 billion received usufruct rights (land lease contracts) in the Special Economic Zone in Duqm, as of the beginning of 2018.
This was revealed in the April issue of the Duqm Economist magazine published this week. The key projects were the OMR6.5-billion Duqm Refinery and Petrochemical Industries Complex and the OMR4.1-billion Omani-Chinese Industrial City in Duqm, in addition to 85 industrial projects that cost OMR534.2 million.
The key projects were the OMR6.5billion Duqm Refinery and Petrochemical Industries Complex and the OMR4.1billion Omani-Chinese Industrial City in Duqm
Two cement plants
These projects include two cement plants; including Al Wusta Cement, worth OMR265 million, and the second being the Duqm Cement Projects Company valued at OMR170 million. An OMR34.6million joint Omani-Qatari venture for manufacturing buses and an OMR24-million bio-based nylon project by Sebacic Oman Company were other projects listed by the magazine. To keep pace with the growing demand from various businesses, the Special Economic Zone Authority at Duqm (Sezad) had earmarked some 177.5 square kilometres (sq km) for heavy and medium industrial projects, as well as projects related to energy, renewable energy, railway and fish processing.
Duqm Economist quoted Ismail bin Ahmed Al Balushi, Deputy CEO, Sezad, as saying, “This space will be developed in a number of phases, depending on the level of turnout and growth witnessed by the zone.” He said 73.5 sq km had been allocated for heavy industries, 51.4 sq km for medium industries, 23.7 sq km for light industries,7.5 sq km for fishery industries and 5 sq km for renewable energy projects.
Duqm has received investments from 14 countries, including Oman, Kuwait, China, India, Qatar, Iran, United Arab Emirates, Egypt, Iraq, Ireland, Kazakhstan, Jordan, Pakistan and Syria.