Duqm free zone attracts OMR610m investment

Business Tuesday 30/January/2018 17:43 PM
By: Times News Service
Duqm free zone attracts OMR610m investment

Muscat: The special economic zone in Duqm has attracted a total of OMR610.2 million in investments last year, which is expected to generate more than 2,200 jobs for both Omani nationals and expatriates. These investments are committed by 87 companies that signed land lease agreements with the Special Economic Zone Authority in Duqm (Sezad) and the projects are coming up in a total area of 1.9 million square meters.
The one-stop shop in Sezad received 256 investment applications, of which 141 were for investment in the construction of commercial residential buildings, 93 in the industrial sector, 14 in the tourism sector, 7 in the logistics sector and 1 in the residential sector.
The projects granted land in the industrial sector were 30, which was followed by the commercial residential projects for 27 agreements, commercial projects for 16 agreements, followed by tourism with 13 agreements, and 1 agreement in the logistics sector (warehouses and stores) with an investment of OMR50,000.
The tourism projects attracted by Duqm zone came first in terms of cost with OMR301 million while industrial investments came
second with OMR298.1 million. The estimated investment cost of
commercial housing projects was OMR7.7 million in the third place followed by investments in the commercial sector by OMR3.2 million.
According to statistical data obtained by Duqm Economist, little
India Company project for the establishment of an integrated tourist complex came in the forefront in terms of investment value with OMR288 million followed by the Al Wusta Cement project with OMR265 million. The project of Hormuz Al Anwar for the establishment of a cement factory came third with OMR11 million while a 4-star hotel that the Royal Group for the Middle East and Asia is planning came fourth with OMR6.2 million followed by the project of Darfish Investment Company for
fisheries factory in the fifth place with OMR6 million.
The data showed that 70 projects had estimated investments of less than one million rial, including 16 projects below OMR100,000. This reflects the increasing demand by SMEs to invest in Duqm and benefit from the economic growth witnessed in Duqm. A pipe-manufacturing project of Al Dar International Company is investing OMR15,000, which has the lowest capital expenditure.
The industrial sector will have factories for freezing and canning fish products, production of fish powder and oil, design of steel structures, gas filling, asphalt production, production of dairy and juice, caravans industry, road lighting production, pipe manufacturing and other projects.
In the tourism sector, a number of hotels, leisure and tourism
facilities will be established.
Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer Duqm), an arm of Sezad for executing infrastructure projects and attracting investors, said that
the number of projects under its implementation is 45,
including 31 construction projects and 14 engineering consulting
The company said that the number of projects under
implementation is 25 projects, including 15 construction projects and 10 projects for engineering consulting. In addition, there are 6 projects were submitted for tender and 4 projects are in the process of preparation for tender, as well as 10 projects that have been completed during 2016 and 2017.
Tatweer Duqm was established in 2013 as a subsidiary of Special Economic Zone at Duqm (SEZD).
According to the report, the cost of the projects supervised by
Tatweer Duqm Company until the end of November 2017 amounted to OMR648.2 million, of which OMR624.3 million is the cost of construction projects, OMR23.3 million is the cost of consultancy services and OMR577,000 maintenance costs.
Port of Duqm is one of the important infrastructure projects
supervised by Tatweer. The port is currently carrying out a number of packages including the second package for the operation of the commercial dock and its equipment to accommodate the containers.
This package includes the construction of buildings and construction of service roads and workshops for the operation of the dock and cranes. The cost of the project is OMR107.3 million. It is implemented by an alliance of the Turkish company Circa and the Portuguese Company MSF.
The port also witnesses the implementation of the third package
for the establishment of commercial terminal of the commercial dock, which includes the construction of roads and commercial gate of commercial dock, inspection area, truck registration
building, port one-stop terminal building, customs and inspection
building and other buildings of the clearing works of the commercial terminal. United Gulf Construction Company constructs the project at a cost of OMR77.1 million.
The fourth package of the port related to the infrastructure of
the government dock is a unique project. This dock is the first of its kind to be built in Omani ports and is allocated for government
agencies. The project, which is valued at OMR55.4 million, is
implemented by the Combined Group Contracting Company (CGC).
The port of Duqm is also witnessing the implementation of the
seventh package related to the construction of the liquid and bulk
berth, which prepares the port for the exporting liquid refined products and enhancing its value in the national economy. The project is executed by Boskalis Westminster Ltd (Oman) at a cost of OMR199.1 million.
Tatweer Duqm also oversees the implementation of the fishing port (marine works and related road works). The project, which cost about OMR60.7 million, was awarded by Galfar Engineering and Contracting SAOG. The construction of the port is part of the Sultanate's plan to create the economic zone of Duqm to be a major centre for the fisheries industry. The port is the largest fishing port in the Sultanate with an area of 600 hectares. It includes a fish processing area with a number of factories and facilities specialised in fish processing and canning. – ONA