Join Webinar

Oman Business News

Pacts signed for RO 133 million investments in Duqm SEZ

Yahya bin Saeed al Jabri, Chairperson of the Special Economic Zone Authority in Duqm (SEZAD), yesterday signed two usufruct and development agreements linked to investments in multi-use urban and mining projects. Investments total in excess of RO 133 million in both ventures, which have the potential to create around 2,000 jobs as well. The agreements were signed in the presence of Dr Ahmed bin Mohammed al Futaisi, Minister of Transport and Communications, at the Kempinski Hotel Wave Muscat. The first pact envisions an investment of around RO 38 million by Bin Zayed International Investment Group in the establishment of the Duqm Commercial Tourist Gate project – a major tourism and urban complex set on a 500,000 sq metre site along Duqm’s coast.

The project, which will be developed in several phases, will include a commercial complex in the first phase, freehold ownership apartments in Phase 2, and a school, water park and other attractions in subsequent phases. The second agreement centres on the establishment of Al Shomookh Mining Industries Complex, which is an integrated mineral processing hub set on an area of 250,000 square metres within the Heavy Industrial Zone of the SEZ. The complex, to be developed over several stages, will house a total of seven project at a total cost of about RO 95 million. It will include the construction of a clinker plant and lime production facility in the first phase, followed by a paints factory, glass manufacturing facility, waste container manufacturing factory, and an aluminium fabrication plan in the second phase. A fertiliser scheme is envisioned in the third phase.

Ahmed bin Zayed Al-Mahrami, Chairman of Bin Zayed International Investment Group and Al-Shomookh Mining Industries Company, signed the agreements on behalf of the two companies. Separately, Duqm Quarries Company signed memorandums of understanding (MoUs) with Bin Zayed Investment Group and Al Shomookh Mining Industries Company for the supply of limestone and dolomite for the mining complex. Duqm Quarries Company was represented by Eng Ali bin Abdullah al Zadjali, General-Manager, while Ahmed bin Zayed al Mahrami, Chairperson, signed on behalf of Bin Zayed International Investment Group and Al-Shomookh Mining Industries Company. Duqm Quarries Company will also supply gravel, sand and other construction materials for the Duqm Commercial and Tourism Gate development.

Source: OmanObserver
  • Duqm SEZ
  • duqm
  • oman
  • business deal
JSRS Banner
JSRS Banner
POST A COMMENT