Duqm port, Petrojet sign 25-year land lease agreement

Business Saturday 28/July/2018 14:34 PM
By: Times News Service
Duqm port, Petrojet sign 25-year land lease agreement

Muscat: The Port of Duqm Company (PDC), a 50:50 joint venture between the Omani government and Consortium Antwerp Port (CAP), has signed a 25-year usufruct land lease agreement for a 50,000 sq.m. plot of land through its subsidiary, Duqm Industrial Land Company (DILC), with Petroleum Projects & Technical Consultations (Petrojet).
PDC is fast becoming an important part of the Middle East’s rapidly transforming maritime landscape. The company also holds under its concession 5,000ha of land at its strategically-located and state-of-the-art port facility, of which 2,000ha is classified as an industrial and petrochemical area offering investors the opportunity to operate medium to heavy industrial activities.
Petrojet, a leading market contractor in Egypt, has extensive reach across the Middle East and North Africa and a regional presence in Oman, Libya, Jordan, Algeria, Saudi Arabia, Qatar, UAE, Yemen, and Lebanon. It operates with a fleet of cutting-edge construction equipment and a highly-skilled resource force of 27,500 technically proficient employees in all fields.
Under the lease agreement, Petrojet will use the land to operate its steel works, molding, fusion, and metal-welding facilities, as well as for the installation and maintenance of pumps.
Petrojet, which has been recognised by international clients as a national health, safety, and environment (HSE) leader, is actively developing an international reputation for HSE commitment and excellence.
The Port of Duqm is committed to offering continuous support to Petrojet in setting up the project and aims to continue giving the best customer experience and value offerings to its clients both globally and locally.