RIYADH: Oman has signed a package of 10 agreements and memorandums of understanding worth 2.9 billion Omani rials ($7.5 billion) to develop industrial, energy and tourism projects in the Duqm Special Economic Zone.
The agreements, signed by the Public Authority for Special Economic Zones and Free Zones during a ceremony in Duqm, cover a range of sectors including green hydrogen, advanced manufacturing, and power generation, as well as tourism and logistics, highlighting growing investor interest in the coastal industrial hub, according to the Oman News Agency.
The package includes some of the largest projects planned for the zone, led by the downstream works for the second and third phases of ACME Group’s green hydrogen project, which account for investments of 1.6 billion rials.
The investments support Oman’s Vision 2040 strategy to diversify the economy by expanding industrial production, logistics, renewable energy and foreign investment. Duqm has emerged as a focal point of those efforts, attracting projects in manufacturing, clean energy and export-oriented industries.
“The agreements included the implementation of the downstream works for the second and third phases of the ACME Group’s green hydrogen project, with investments totaling 1.6 billion rials,” ONA reported.
