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Private sector to pump $766m in Duqm projects

Oman Business

Private sector companies are expected to invest about RO297.5 million ($766 million) in projects to develop the Special Economic Zone Authority in Duqm (SEZAD) in Oman, a report said.

The projects, upon completion, will offer more than 11,000 direct jobs, reported Oman Observer.

The new projects include a tourism façade that will comprise hotels, commercial centres, residential areas, recreational centre, waterpark and other tourism facilities. Duqm Marine Company will implement a marina over 741,000 sq m at a cost of RO 283 million, which will provide 800 jobs when completed, the report said.

SEZAD also signed an agreement with Al Taman Holding Company, enabling the company to build an international school at a cost of RO6.5 million including RO4 million as construction cost and RO2.5 million as working capital investment, according to Observer.

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