Oman: $ 10.7 Billion Investment Chinese Investment in Oman Industrial City
Initial groundwork has commenced on the site of the Sino-Oman Industrial City, reports Oman Daily Observer. The project with estimated costs of $ 10.7 billion will be built at the Special Economic Zone (SEZ) in Duqm on the Sultanate’s Wusta coast.
Muscat/Oman — According to SEZ, the Sino-Oman industrial city in Duqm will be on a total area of 1,172 hectares ( 11.7 square kilometers) divided into three main categories. The first area of about 870 hectares will be indivisible and allocated to heavy industries and areas of medium, light, and mixed use. The Chinese contractor Duqm Ningxia Construction Company is currently involved in the preparation of the site that will house heavy, medium and light industries, as well as tourist, commercial and healthcare facilities.
In May, the Sezad inked a deal with Oman Wan Fang, which represents a consortium of six private Chinese corporations, for the establishment of a new investment hub. The City will be home to Duqm’s second oil refinery, which with a world-scale processing capacity of 230,000 barrels per day (bpd), will be similar in size to the $ 6 billion Duqm Refinery currently under construction in another part of the SEZ.
The number of projects implemented in the China-Oman industrial park will be about 35: twelve projects in the field of heavy industries including the production of commercial concrete, building materials and related industries, production of glazed glass, methanol and other chemicals. In the light industrial zone, there will be twelve projects including amongst others the production of 1 GW of solar power units, production of oil and gas tools, as well as products for pipelines and drilling.