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Muscat: The Omani government is laying the ground for the development of a huge industrial hub and free trade zone in Duqm, a remote coastal town on the Arabian Sea.
Spread on 24,000 hectares, the industrial park will be adjoining a major port complex that includes a ship repair yard being developed in association with South Korea's Daewoo Shipbuilding and Marine Engineering.
The ship repair yard, due to be launched in 2010, is being designed to accommodate some of the largest vessels in service today, and will rank only second to the dry dock in Dubai in terms of size and capacity.
The industrial park and free trade zone is being master planned to attract a wide spectrum of investments - industrial, oil refining, petrochemical processing, mineral, small- and medium-scale manufacturing, logistics, warehousing, fisheries, etc.
Oman Refineries and Petrochemicals Company, which owns and operates the country's two refineries in Muscat and Sohar, is pursuing the development of a major oil refinery at Duqm.
With a processing capacity of between 300,000 and 400,000 barrels per day of mixed crudes, the project will rank among the largest refineries in the Gulf. It will also be integrated with a number of downstream projects.
Oman's authorities also see the potential for investments in a number of industrial and processing ventures that will utilise the natural resources around Duqm.
The Supreme Committee for Town Planning, an organ of the Ministry of National Economy, will shortly commission a consultant to study the industrial park's potential for investments in mineral processing, cement plants, aggregates and warehousing.
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