Friday 29 March 2024
 
»
 
»
Story

Overview of the Port of Duqm

Oman's Duqm attracts $11bn investments

MUSCAT, May 30, 2017

Oman's Duqm, an upcoming industrial and transshipment hub, has attracted around $11 billion in investment for various projects, which include a major refinery and a series of industrial ventures by Chinese investors, a top official at the Special Economic Zone Authority Duqm (Sezad) was quoted as saying.

The major projects, which are in different stages of planning and implementation, include a 230,000 barrels per day-capacity refinery, a methanol-to-olefin project, a coal-fired power project, an automobile unit, a project for manufacturing solar panels, a five-star hotel, a desalination plant and a sabacic acid unit, said the Times of Oman report.

Lee Chee Khian, chief executive officer of Sezad, revealed that they are also looking at some more projects, including a pharmaceutical company from India.

“At a later stage, we will have a high-end electronic industry (in Duqm). We are in discussion with a medical devices firm (in India). A few Indian companies are also interested in setting up pharmaceutical projects in Duqm,” he said.

The official further added that all these projects will help the government's objective to make Duqm a transshipment hub.

The proposed methanol-to-olefin factory plans to produce two major petrochemicals - methanol and olefin - using natural gas as feedstock at Duqm.

The project, which has an envisaged capacity of 10 million tonnes per year, is planned by Chinese petrochemicals corporation Mingyuan Holdings Group Co.

Among the major industrial ventures, the total cost for building the refinery is estimated at $7 billion, while the expected capital expenditure for a methanol-to olefin project is some $2.3 billion.




Tags: | Oman | Duqm | investments |

More Energy, Oil & Gas Stories

calendarCalendar of Events

Ads