Marafiq, a joint venture firm set up by Takamul Investment Company (a wholly-owned subsidiary of Oman Oil Company), and Singapore-based Sembcorp Utilities, is set to develop a 300 MW power project in the special economic zone (SEZ) at Duqm in the sultanate.

Duqm is presently served by a 66 MW diesel-fired power plant owned and operated by the Rural Areas Electricity Company (Raeco), part of Nama Group, reported Oman Observer.

The facility is designed to primarily meet the energy requirements of a new refinery and petrochemical complex under development at the SEZ, stated the report, citing Oman Power and Water Procurement Company (OPWP).

The 230,000-barrels-per-day (bpd) greenfield refinery is being jointly developed by Oman Oil Company and Kuwait Petroleum International at a cost of around $7 billion.

Significantly, OPWP along with the Public Authority for Electricity & Water (PAEW) are currently weighing a possible role for Marafiq in the supply of both electricity and water to address part of Duqm’s projected requirements as well, said the report.

Demand is projected at 650 MW in the first phase of the growth of the SEZ, although this is subject to a number of factors, including the current economic and investment environment, it added.