RO11.2 Billion Worth Industrial Project Expected in Duqm

28042018_082114_0

 

The estimates point out that the value of industrial projects, which got the usufruct right in the Special Economic Zone in Duqm (SEZD) as of the beginning of 2018 stood at about RO11.2 billion.

Duqm Economist magazine said in its April issue, which was published this week, that the key projects include Duqm Refinery and Petrochemical Industries Complex whose estimated cost is set at about RO6.5 billion (about $17 billion) and the Omani-Chinese Industrial City in Duqm, which cost about RO4.1 billion (about $10.7 billion), in addition to 85 industrial projects that cost about RO534.2 million. These projects include two cement plants; the first by Al Wusta Cement at a cost of RO265 million and the second plant by Duqm Cement Projects Company at a cost of RO170 million. These projects also include a RO34.6 million worth of joint Omani-Qatari venture for manufacturing of buses, a bio-based nylon project by Sebacic Oman Company at a cost of RO24 million for the first stage.

The list also includes a number of other industrial projects that will be set up at different parts of SEZD.

In a bid to keep pace with the growing demand from various businesses, the Special Economic Zone Authority at Duqm (SEZAD) has earmarked about 177.5 km for hosting various heavy and medium industrial projects, as well as other projects related to energy, renewable energy, railway and fish processing.

Duqm Economist magazine quoted Ismail bin Ahmed al-Balushi, Deputy SEZAD CEO saying “This space will be developed in a number of phases depending on the level of turnout and growth witnessed by the zone”. He pointed out that while 73.5 square km has been allocated for heavy industries, 51.4 square km for medium industries, 23.7 square km for light industries,7.5 square km for fishery industries and 5 square km have been allocated for renewable energy projects.

He noted that Duqm has received investments from investors from 14 countries namely the Sultanate of Oman, Kuwait, China, India, Qatar, Iran, United Arab Emirates, Egypt, Iraq, Ireland, Kazakhstan, Jordan, Pakistan and Syria.


 

(Source: ONA)


Leave a Reply