Al Duqm: The Special Economic Zone Authority of Duqm (SEZAD) on Monday signed an agreement with an alliance led by Fisheries Development Oman (FDO), an affiliate of Oman Investment Authority, for the development, management and operation of the multi-purpose fishing port in Duqm.
Also, FDO signed a land usufruct agreement for the fishing port with Al Wusta Fisheries Industries.
With an 8-km area and 10-metre depth, the fishing port is expected to be fully operational in the first quarter of 2021 at a cost of RO 63 million. The port will be able to receive large fishing and food ships.
The fishing port’s location is distinguished by its proximity to a 7-km food industries zone that was designated to supplying the basic requirements of food industries in the area.
The signing ceremony was held under the auspices of Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources.
The agreement for the development, management and operation of the fishing port in Duqm was signed by Engineer Yahya bin Khamis al Zadjali, in-charge of managing operations of the Special Economic Zone at Duqm. The land usufruct agreement was signed by Engineer Daood bin Sulaiman al Wahaibi, CEO of Al Wusta Fisheries Industries, while FDO was represented in the signing by Khalid bin Ali al Yahmadi, CEO. Engineer Yahya bin Khamis al Zadjali, in-charge of managing operations of the Special Economic Zone at Duqm, said the signing of the two agreements comes within the framework of SEZAD’s strategy to draw local and foreign investments who seek to benefit from the modern infrastructure, excellent investment climate and the encouraging incentives offered by SEZAD.
He noted that SEZAD managed to attract investments worth RO 135 million in fisheries industry and superstructure development. The volume of investment is projected to increase upon the completion of the new fishing harbor. — ONA