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Private sector to pump $766m in Duqm projects

MUSCAT, April 17, 2016

Private sector companies are expected to invest about RO297.5 million ($766 million) in projects to develop the Special Economic Zone Authority in Duqm (Sezad) in Oman, a report said.

The projects, upon completion, will offer more than 11,000 direct jobs, reported Oman Observer.

The new projects include a tourism aspect that will comprise hotels, commercial centres, residential areas, recreational centre, waterpark and other facilities. Duqm Marine Company will implement a marina over 741,000 sq m at a cost of RO283 million ($733 million), which will provide 800 jobs when completed, the report said.

Sezad also signed an agreement with Al Taman Holding Company, enabling the company to build an international school at a cost of RO6.5 million  ($16.8 million) including RO4 million ($10.3 million) as construction cost and RO2.5 million ($6.5 million) as working capital investment, according to Observer.

Tags: Oman | Duqm | Economic zone | Sezad |

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