Duqm in Oman attracts $11 billion investment, says Sezad boss

Duqm has attracted some $11 billion in investment for various projects, which include a major refinery and a series of industrial ventures by Chinese investors, according to a top official at the Special Economic Zone Authority Duqm (Sezad).

The major projects, which are in different stages of planning and implementation, include a 230,000 barrels per day-capacity refinery, a methanol-to-olefin project, a coal-fired power project, an automobile unit, a project for manufacturing solar panels, a five-star hotel, a desalination plant and a sabacic acid unit.

“All these projects will help the government’s objective to make Duqm a transshipment hub,” he added. “At a later stage, we will have a high-end electronic industry (in Duqm). We are in discussion with a medical devices firm (in India). A few Indian companies are also interested in setting up pharmaceutical projects in Duqm,” the Sezad chief said.

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