The Oman Investment Authority (OIA) has achieved a significant milestone with the completion of six national projects, collectively valued at OR4 billion ($10.4 billion). These projects span various governorates and sectors, reflecting Oman’s commitment to economic diversification, job creation, and private sector empowerment.
Overview of Completed Projects:
1. Duqm Refinery and Petrochemical Industries (OQ8) Project:
Considered the largest project in the Duqm economic zone, it includes main processing units at the refinery, storage and export facilities at Duqm Port, and a crude oil storage facility in Ras Markaz.
The refinery has a capacity of 230,000 barrels per day and produces diesel, jet fuel, liquefied petroleum gas, sulfur, and petroleum coke.
The project contributes to transforming Duqm into a major industrial and economic center in the region.
2. Ras Markaz Crude Oil Storage Project:
Located in Al Wusta Governorate, the project supports economic diversification and has a storage capacity of up to 26.7 million barrels in its first phase.
It facilitates the export of Omani oil by connecting to the Nihayda Station and serves as a crucial component in Oman’s efforts to address global market demands.
3. Duqm Integrated Power and Water Project (DIPWP):
Located in Duqm, this project meets the electricity and water needs of Duqm Refinery and Petrochemical Industries (OQ8).
It attracts investments to the Duqm Special Economic Zone and provides industrial electricity and water to companies in the region.
The station has a design capacity of 326 MW of electricity and 36,000 cubic meters of water per day.
4. “Rabt” Project:
A strategic initiative in Duqm, the project includes 660 km of transmission lines, 400 MW of transmission lines, and five main stations.
Enhances the efficiency and integration of the National Electricity Transmission Network and supports the development of renewable energy sources in Al Wusta Governorate.
5. Khuwayma Shrimp Farm Project:
Located in Jalan Bani Bu Ali, this project contributes to achieving food security and enhancing the value-added of raw materials in Oman.
Built on 200 hectares, it has 126 aquariums, a shrimp nursery unit, a care unit for shrimps, a primary processing unit, and a production and packaging unit.
The operational capacity is 4,000 tons per year.
6. JW Marriott Muscat Hotel:
Supporting the tourism sector, the hotel has 304 rooms and suites, enhancing tourism development and contributing to economic diversification.
Part of the first phase of Madinat Al Irfan East, the hotel complements the Oman Convention and Exhibition Centre complex.
Strategic Significance:
These completed projects align with Oman Vision 2040 and the OIA’s strategy to diversify the economy, attract investments, and create employment opportunities. The projects contribute to Oman’s long-term goals, support economic growth, and position the nation as a competitive player in various sectors. The successful completion of these initiatives underscores Oman’s commitment to sustainable development and strategic objectives.
