SEZAD’s Tatweer signs MoU with Indian ports developer

MUSCAT, SEPT 30 – The Oman Company for the Development of the Special Economic Zone at Al Duqm (Tatweer), the infrastructure investment arm of SEZAD, has signed a Memorandum of Understanding (MoU) with Adani Ports and Special Economic Zones Limited (APSEZL), a private-led ports and SEZs promoter in India.
The pact, signed in the Indian capital New Delhi, brought to an end the ‘Invest in Duqm’ promotional campaign organised by the Special Economic Zone Authority at Al Duqm (SEZAD) in Mumbai and Delhi. The weeklong roadshow attracted a large number of major Indian companies.
The MoU was signed on behalf of Tatweer by Ismail bin Ahmed al Balushi, Deputy CEO of SEZAD, and from APSEZL’s side by Karan Adani, one of the directors. Also present at the signing were Shaikh Hamad bin Saif al Rawahi; the Sultanate of Oman’s Ambassador to India, among other officials.
Under the agreement, APSEZL and SEZAD will explore opportunities for joint investment in the Duqm SEZ in areas of mutual interest. Both sides will work towards developing a framework for investment and cooperation based on which APSEZL will list out projects that it intends to implement in Duqm.
Adani Ports and SEZ Limited (APSEZL), one of India’s largest port developers, currently operates Mundra Port in Gujarat, with 24 berths. The Group’s $12 billion investments in India also include industrial and infrastructure projects.
Al Duqm Development Company SAOC (Tatweer), a government company fully owned by SEZAD, invests in basic infrastructure at Duqm SEZ aimed at attracting investments into the SEZ.
In a statement, Shaikh Hamad bin Saif al Rawahi; the Sultanate of Oman’s Ambassador to India, said the pact affirms the robust profound political and economic relations between Oman and India.
He also paid tribute to the strong Business 2 Business and trade partnerships between Omani companies and their Indian partners.