Oman's Assarain Group signs 25-year land lease deal with Duqm
Duqm Industrial Land Company has been granted a concession to manage 2,000ha of land earmarked for medium heavy, heavy, and petrochemical industrial land in the Oman port town of Duqm
Assarain Group’s concrete subsidiary has signed a 25 year land renewable lease agreement with Duqm Industrial Land Company (DILC) for a significant industrial plot in the Oman port city of Duqm.
According to a report by the Times of Oman on Saturday, DILC – a subsidiary of Port of Duqm Company (PDC) – has been granted a concession to manage 2,000ha of land earmarked for medium heavy, heavy and petrochemical industrial land in Duqm.
With this in mind, the 6ha lease agreement will enable Assarain Concrete Products (ACPD) to construct a mega block making plant, which can produce high quality building blocks, interlocking tiles, and special products.
Reggy Vermeulen, chief executive officer of the Port of Duqm, presided over the signing event, with Khalid Said Al Wahaibi, Assarain Group’s managing director, also present to sign the agreement.
The Oman-based news agency added: “The company shall supply all the high-profile projects, housing and tourism sectors of Duqm and the Al Wusta region, both showing remarkable industrial growth under the leadership of the Special Economic Zone Authority of Duqm (Sezad).
ACPD’s general manager, Alok Varma, said: “This agreement consolidates and expands the scope of Assarain to reach a wider customer segment in a more effective way using the strategically located land which is near the Port of Duqm.”
Commercial director at PDC, Erwin Mortelmans, added that “such significant investment will position ACPD as one of the major growth engines for Sezad and PDC, with respect to the construction, building material and infrastructure sectors of Duqm”.
The news came four months after construction started on Oman’s $7bn A’Duqm Refinery project following a joint venture between Oman Oil Company (OOC) and the Kuwait Petroleum Corporation (KPC).