China-Oman Industrial Park boosts China-Oman cooperation

The foundation stone laying ceremony for the China-Oman (Duqm) Industrial Park, a project under the Belt and Road Initiative, was staged in Duqm Economic Special Zone in Oman on April 19.

The industrial park, which covers 11.72 square kilometers, will have investment expected to reach 67 billion yuan (US$9.73 billion). It will be home to enterprises from nine areas, including petrochemical, building materials and e-commerce.  

Ten Chinese enterprises signed agreements to enter the industrial park during the ceremony. Enterprises from Chinese provincial-level regions including Ningxia Hui Autonomous Region and Hebei Province will invest 560 million yuan on a sea water desalination plant, 2.8 billion yuan on a power station and 16 billion yuan on a natural gas-to-methanol and methanol-to-olefins project.

Yahya Al Jabri, chairman of the Duqm SEZ, said, “, Projects at the industrial park deepen the political and trade relations between the two countries.”

Al Jabri noted, “With the joint efforts of the two countries, investments in the industrial park will hit US$10 billion by 2022.”

Ningxia is the main constructor of the industrial park. Wang Heshan, vice  governor of Ningxia, said, “Efforts will be exerted to build the industrial park into a new platform for enterprises from China and Oman to pursue win-win cooperation and common development, as well as a new bridge for friendly exchanges between the two peoples.”

Duqm Port is situated on the southeastern seaboard of Oman, overlooking the Arabian Sea and the Indian Ocean. It has great potential for development.

Sha Yanju, general manager of Wanfang Investment Company, the main operator of the industrial park, said, “We will give top priority to the sea water desalination and electricity generation projects, so as to get ready for launching of the heavy industrial projects.”

Sha is confident that Duqm will become the second Dubai in the foreseeable future.