Tuesday, 22 Oct 2019 | 23 Safar 1441
Duqm zone: Leading Oman’s economic development charge

Duqm zone: Leading Oman’s economic development charge

Usufruct pacts

In the very first half of this year, the Special Economic Zone Authority of Duqm (SEZAD) signed 34 usufruct pacts. The quantity of projects that investors want to set up is 16 in the industrial, 11 in industrial and residential, 4 in the tourism and 3 in the fisheries sector. Omani investors account for 73.five per cent in 25 projects. The investors who signed usufruct agreements with SEZAD in the very first half of this year consist of these from China, India, Kuwait, the UAE, Qatar, Jordan and Lebanon.

In the very first half of this year, SEZAD signed agreements to construct roads to hyperlink different investment zones. The authority intends to pave a lot more than 86km new roads in the coming days. According to statistical information issued by SEZAD, the quantity of infrastructure projects below implementation reached 26 by the finish of 2018. Of these, 15 are in the building sector and 11 in the consultancy solutions.

Duqm port, airport

 

The multi-objective Duqm port is 1 of the most crucial government projects implemented in SEZD. It holds strategic worth due to its geographical position on the international shipping lines connecting the African and Asian markets. The inner basin of the port is 19m lengthy and consists of a two.25km lengthy and 350m wide industrial berth.

The port has a 1km berth reserve for government ships. The Port of Duqm has benefited immensely due to the operationalisation of the cargo and gear handling activities, particularly these connected with the oil and gas fields. This year witnessed the official opening of Duqm Airport, which can accommodate 500,000 passengers annually.The airport has a runway created to obtain various varieties of aircraft and air cargo.

 

Refinery in Duqm

 

The Duqm Refinery is a venture among Oman Oil Company and Kuwait Petroleum Company, the biggest joint venture among the two Gulf states. The project’s building packages consist of the principal central processing units of the refinery, public facilities, project help solutions, in addition to oil storage facilities at Ras Markaz and an 80km oil pipeline from Ras Markaz to the refinery complicated. It will have a refining capacity of 230,000 barrels per day.

The refinery final year signed agreements with nearby and international financing agencies totalling US$four.6bn, by means of 29 funding institutions from 13 nations and guarantees from 3 main worldwide export credit institutions. Fisheries sector SEZD is at present seeing the establishment of the fishing port and a fish industries complicated.

This year, SEZAD has elevated the port depth to 10m from 6m to attract big fishing vessels operating on the higher seas. The authority is operating on a extensive program to have all infrastructure projects associated to the fisheries sector below 1 roof to maximise economic prospective of the port. Private sector investments In addition to the government projects, SEZD is seeing the implementation of numerous projects from the private sector. The quantity of usufruct agreements with the private sector reached 196 at the finish of 2018, with investments estimated at US$14.2bn.

Information Source: Muscat Daily

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