SEZAD signs MoU with Adani Ports and Special Economic Zone

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Muscat (WAF) – Omani State-owned Tatweer and Adani Ports and Special Economic Zone Ltd (APSEZL) of India signed today a memorandum of understanding (MoU) in Delhi to explore investment opportunities in Duqm, a statement by the Special Economic Zone Authority Duqm (SEZAD) said on Saturday.
The MoU provides for the establishment of “formal and flexible framework for investment cooperation between the two parties and the development of business in a number of key sectors in (Duqm)” SEZAD said in the statement with no details on the targeted sectors.
“Adani Ports and Economic Zones Company will provide a detailed list of the projects it wishes to set up in the coming period”, SEZAD said in the statement.
Tatweer is the development arm for SEZAD. The Omani government is working to develop Duqm with a total area of 2,000 km2 and 70 km of coastline along the Arabian Sea, into a major business hub as part of efforts to diversify the economy beyond oil. Duqm is a stretch of barren coast 550 km (345 miles) south of the capital Muscat.
last year, the prominently located city of Duqm signed with Chinese investors to build an industrial park at Oman’s Duqm port over 1,172-hectare with estimated investments over $10bln.
In addition to the Chinese industrial park, the Duqm Special Economic Zone includes a ship repair yard, and adjacent port, and plans to include an Omani-Kuwaiti oil refinery, a petrochemical complex, manufacturing operations and warehousing and logistics facilities.
Adani Ports and Special Economic Zone Limited is an India-based public port infrastructure company, operating approximately 10 ports and terminals in India. The company’s segments include operating and maintaining ports and port-related infrastructure, marine, handling intra-port transport, storage, and diverse cargo handling.