Port of Duqm Company (PDC) said one of its subsidiaries, Duqm Industrial Land Company (DILC), has signed a 25-year usufruct agreement for the lease of a 50,000 sq m plot to Egypt-based engineering and pipeline group, The Petroleum Projects & Technical Consultations Company (Petrojet).

A joint venture between the Omani government and the Consortium Antwerp Port, the PDC is fast becoming an important reality of the Middle East region’s rapidly transforming maritime landscape.

PDC also holds under its concession 50 million sq m of land space at its strategic location and a state-of-the-art port facility. Out of which 20 million sq m is industrial and petrochemical area that offers investors to operate medium to heavy industrial activities.

As per the lease agreement, Petrojet will use the land to operate its steel works, moulding, fusion and welding metal structures besides installation and maintenance of pumps, said a statement from the Omani company.

A leading contractor in Egypt, Petrojet has a major presence in the Middle East and North Africa region including in its key markets Oman, Libya, Jordan, Algeria, Saudi Arabia, Qatar, UAE, Yemen and Lebanon.

The company operates with its fleet of cutting edge construction equipment and its 27,500- strong workforce, it added.-TradeArabia News Service