Thursday, April 20, 2017

Foundation-stone laid for China-Oman Industrial Park

Oman’s Special Economic Zone Authority at Duqm (Sezad) yesterday (April 19) celebrated laying of the foundation-stone for the China-Oman Industrial Park in Duqm, a project with investments expected to cross $10 billion till 2022, said a report.

The ceremony was held under the auspices of Sayyid Taimour bin Asaad Al Said in the presence of Yahya bin Saeed Al Jabri, chairman, Sezad; Wang Heshan, vice governor of Ningxia and chairman of Wanfang Oman Group, said the Oman Daily Observer report.

During the ceremony, a total of 10 agreements were signed between Wanfang Oman and some Chinese companies to implement $3.2 billion worth projects at the China-Oman Industrial Park in Duqm, added the report.

The 10 projects include building a manufacturing facility for solar energy equipment with a capacity of 1,000 gigawatt per annum, a factory for oil and gas services, water desalination plant, a facility for bromine exploration, a power plant, a five-star hotel, construction materials factory, a 4×4 vehicles factory and a factory for non-metal pipes used in oilfields.

Al Jabri said that the park project crowns the joint efforts between the sultanate and China through Wanfang Oman and Sezad.

Heshan said that the project is a new springboard for the friendship and cooperation between the two sides and that it is supported by governments in both countries and Chinese businessmen.

He added that many mega projects whose investments cost about $3.2 billion, will be launched soon.

Ningxia Zhongke Jiaye New Energy and Technology Management Company is planning to establish a 1GWp solar equipment manufacturing base with an estimated capital expenditure of $94 million, while Wuhan Xiao Long Auto-Tech Co Ltd plans to build a high-mobility SUV project with an estimated investment of $84 million.

Also, Ningxia Water Investment Group Co Ltd signed a land lease agreement to build a desalination project with an investment of $81 million.

Ningxia Ningqiao Commercial Investment and Operation Ltd signed an agreement to build a building material manufacturing and trading facility with an investment of $46 million.

Another Chinese firm also signed an agreement to build a $10 million-unit to manufacture non-metal composite pipes for oil industry.

Lee Chee Khian, chief executive officer of the Special Economic Zone Authority of Duqm, said that the design work for the China Oman Industrial Zone has already been completed.

Considered as the biggest investment in Duqm, the China-Oman Industrial Park is one of the leading overseas industrial parks promoted by the National Development and Reform Commission and the Ministry of Commerce in China, added the report.

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