$10 bn investments pledged


989055DUQM: The Special Economic Zone Authority in Duqm (SEZAD) on Wednesday celebrated laying of a foundation-stone for the Sino-Oman Industrial City in Duqm whose investments are expected to cross $10 billion till 2022. The ceremony was held under the auspices of His Highness Sayyid Taimour bin Asaad al Said in the presence of Yahya bin Saeed al Jabri, SEZAD Chairman, Wang Heshan, Vice Governor of Ningxia and Chairman of Wanfang Oman Group. During the ceremony, 10 agreements were signed between Wanfang Oman and some Chinese companies to implement $3.2 billion worth projects at the Sino-Oman Industrial City in Duqm.

The 10 projects include building a manufacturing facility for solar energy equipment with a capacity of 1,000 gigawatt per annum, a factory for oil and gas services, water desalination plant, a facility for bromine exploration, a power plant, a five-star hotel, construction materials factory, a 4×4 vehicles factory and a factory for non-metal pipes used in oilfields. Speaking on the occasion, Al Jabri said that the Sino-Oman Industrial City project crowns the joint efforts between the Sultanate and China through Wnafang Oman and SEZAD. It is an addition to the historic, political and trade relations 989056between the two countries. The Sultanate, under the wise leadership of His Majesty Sultan Qaboos, seeks to boost bilateral economic and political relations to bring benefits to both countries.

Wang Heshan said that the project is a new springboard for the friendship and cooperation between the two sides and that it is supported by governments in both countries and Chinese businessmen. He added that many mega projects whose investments cost about $3.2 billion, will be launched soon. The ceremony was attended by Ahmed bin Abdullah al Shuhi, Minster of Regional Municipalities and Water Resources, Shaikh Me’athad bin Mohammed al Yaqoubi, Governor of Al Wusta, and the Chinese ambassador to the Sultanate, as well as Omani and Chinese officials and dignitaries in the Governorate of Al Wusta. — ONA