Duqm – The Duqm Economic Forum, which opened on Monday at the Special Economic Zone at Duqm (SEZAD), witnessed the signing of several investment agreements and memorandums of understanding (MoUs) for new projects in SEZAD.
These new investment agreements are expected to enhance Duqm’s pioneering role in attracting green industry projects and enhancing their presence in Duqm.
The agreements and MoUs included major projects in the sectors of renewable energy, green hydrogen, green ammonia production, and green steel production, in addition to an agreement for the Ras Markaz road project.
The agreement – for the construction of the 51km dual road project from Duqm Airport to Ras Markaz – was signed between the Public Authority for Special Economic Zones and Free Zones (OPAZ) and a joint venture of Strabag Oman and the Saudi-based Al Rosan Contracting Company.
The cost of this road project is approximately RO57.6mn, and it is expected to be completed in the second half of 2025, officils said.
OPAZ signed a usufruct agreement with the Hyport Duqm consortium for a land area of 150sqkm in SEZAD to establish a green hydrogen project.
This green hydrogen and ammonia project will be established with renewable energy capacity between 250-500MW using solar and wind energy. OPAZ also signed an MoU with the Port of Duqm and Shell Oman for a new project.
Furthermore, OPAZ signed an MoU with BP to establish a manufacturing facility to produce green hydrogen derivatives in the Special Economic Zone at Duqm.
OPAZ also signed an MoU with the consortium of Korea’s POSCO and France’s ENGIE to allocate a plot of land in the Special Economic Zone at Duqm to establish a plant to produce green ammonia and green hydrogen derivatives in downstream industries with a production capacity of up to 1.2mn tonnes annually.
The ceremony also witnessed the signing of three agreements related to the Vulcan Steel’s green steel project in SEZAD, with a target production volume of about 5mn tonns annually of green steel.