The UAE-based Ghantoot Group plans to build a bio-fertiliser plant at the Special Economic Zone (SEZ) in Duqm, Oman at an investment of around $700 million, according to a report.

A well-diversified corporation with commercial interests spanning infrastructure development, engineering services, utilities and transport, Ghantoot is headquartered in Abu Dhabi, UAE.

The proposed venture is part of a growing portfolio of investments planned by the group in the sultanate, which includes several utility and hospitality projects, reported the Oman Daily Observer.

The bio-fertiliser facility will be integrated with captive power and carbon capture and aims to help both the agriculture and energy sector through enhanced oil recovery (EOR), it stated.

In addition, the project will boast a seawater reverse osmosis (SWRO) facility that will provide 45,000 cu m per day of potable and process water that will be cheaper than the present procurement processes in Oman.

The Ghantoot Group had earlier committed a $500-million investment in Oman, mainly in key infrastructure projects that would create 300 direct jobs and at least another 1,000 indirect jobs, it stated.