Economy
Duqm Development Company signs agreement with India’s Adani Ports

A Memorandum of Understanding (MoU) was recently signed by the Duqm Development Company SAOC (Tatweer) with India’s Adani Ports and Special Economic Zone Limited in New Delhi.
The agreement is aimed at exploring better investment opportunities in the Special Economic Zone at Duqm. The pact also stipulates on setting an official and framework for investment and cooperation between both parties and developing works in many key sectors in Duqm.
Soon, Adani Ports will submit a detailed list covering the projects it intends to set up in Duqm and will also determine the points of contracts and liaison between both parties to discuss all relevant investment topics.
Adani Ports and Special Economic Zone Limited is the largest ports company in India and is currently handling the Mundra Port located on the coast of Gujarat, India with 24 wharfs. The Adani group is engaged in many infrastructure and industry sectors, with investments valued at approximately $12 billion.
This agreement was executed after the conclusion of Tatweer’s ‘Invest in Duqm’ campaign in Mumbai and New Delhi. The campaign witnessed vigorous participation from many of the companies operating in the area between September 25 and 30.
The MoU was signed by Ismail bin Ahmed Al Balushi, deputy chief executive officer of the Special Economic Zone Authority in Duqm and by Adani Port’s chief executive officer Karan Adani.
The signing ceremony was attended by Sheikh Hamad bin Saif Al Rawahi; the Sultanate’s ambassador to India and other officials from Oman and India.
Tatweer is a state-owned company, fully owned by the Special Economic Zone Authority in Duqm (Sezad) and is its executive arm in the field of implementing basic infrastructure projects and attracting investments into the zone.
Al Rawahi said Indian businessmen should capitalise on the opportunities on offer in Duqm.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Education2 months ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Digital1 month ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News4 weeks ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Energy2 months ago
Oman Investment Authority launches the Sultanate’s First Energy Transition Fund
-
Business2 months ago
Need to rebuild trust and collaboration says Alexander Stuglev, Chairman & CEO of the Roscongress Foundation
You must be logged in to post a comment Login