Oman Wanfang to develop 25 new projects in Duqm
Oman Wanfang, a consortium of six Chinese private firms, plans to develop 25 new projects in Duqm, Oman
Oman Wanfang, a consortium of six Chinese private firms, plans to develop 25 new projects in Duqm, Oman.
Oman Wanfang is the master developer of China Oman Industrial Park in Duqm
Ali Shah, chief executive officer of Oman Wanfang said that the proposed 25 projects are in the final stage of studies.
He added that the company plans to start commercial operations at all projects by 2022.
According to Times of Oman, the first phase of the China-Oman Industrial Park in Duqm comprises 10 projects, which are mainly projects for manufacturing building materials, methanol for the olefin project, power project, desalination plant, solar panels and equipment, products for oil field, a plant for producing non-metallic composite pipes used in the oilfields, a factory for the production of steel pipes, wire and steel reinforced PE type and spare parts, a factory to produce high-mobility SUV, and a five star hotel located in the tourist area in Duqm.
Regarding the construction materials, which will be built by Oman Wanfang, Shah said that the project cost is about $138m.
Regarding funding of China Oman Industrial Park, Shah said that the cost of establishing the park is about $10.7bn and will be financed through Chinese companies and bank loans.