Marafiq to invest in heavy industry areas in SEZAD

MUSCAT, DEC 20

Marafiq, a joint venture by OQ (a subsidiary of Oman Investment Authority) that has a total investment of $600 million in Duqm, has expressed its interest to increase its spending efficiency by investing in a number of heavy industry areas in the Sultanate of Oman after its successful operations in the Special Economic Zone at Duqm (SEZAD).

The company, which has ambitious plans to increase its revenues through new projects and to maximise the economic value of existing projects, is developing a sustainability plan and building the company's strategy for the renewable energy sector while implementing training programmes to hone the skills of Omani youth and prepare them for the stages of commercial operation of its projects.

Benefiting from the company's experience in Duqm and its management and operation of 3 major projects including the integrated electricity and water station, the gas turbine station that was implemented in cooperation with the Nama Group, and the drinking water sector management project in the SEZAD, in which the company achieved a number of achievements, is poised to invest with major projects like Khazaen and Madayn.

Speaking to the Observer, Engineer Abdullah bin Mohammed al Hashemi (pictured), CEO of Marafiq Company, confirmed that the company is considering investing in a number of heavy industry areas in the Sultanate of Oman after the success it achieved in the Special Economic Zone in Duqm and revealed the company's future plans, explained that the plan includes examining investment opportunities available in heavy industry areas.

Regarding the new projects, Al Hashemi said that the company has, during the last period, discussed ways of cooperation with Khazaen Economic Zone and the Public Establishment for Industrial Estates (Madayn) to provide facilities services there.

Last year, Marafiq has also signed a MoU to provide utility services to the leading steel industry group, Jindal Shadid, which is in the process of establishing green iron production plant in the said Zone. Marafiq has also signed a similar MoU with two Japanese companies, Kobe Steel and Mitsui, which intends to establish a reduced iron factory in the Duqm Special Economic Zone.

He further said that Marafiq has already begun to provide some services to these companies during the current year. The Vulcan Green Steel project, affiliated with the Jindal Steel Group, has recently been connected to the water network through a permanent branch line to provide water for the project, which is the first of its kind to connect an under-construction project to the water network in the Duqm Special Economic Zone, and aims to provide water to the project permanently instead of using water tankers that affect the road network. The project also contributes to reducing carbon dioxide emissions.

Marafiq has also signed a MoU with the German University of Technology in Oman (GUTech) stipulating the study of opportunities for cooperation between the two sides in the fields of Related to supporting innovation and projects.

“By diversifying our investment in a range of sectors, we will be better equipped to support the national initiatives including in the field of clean energy and environmental preservation. Operating the gas turbine-powered power station instead of the previous diesel-powered station contributed to reducing carbon dioxide emissions. We also support the efforts of the SEZAD, which attracts environmentally friendly projects, such as the Green Iron Factory and the Reduced Iron Factory, to which Marafiq will provide industrial facilities services,” he added.