MUSCAT: The Special Economic Zone at Duqm (SEZAD) is making headway in the construction of a first-of-its-kind materials market, equipped also with workshops, showrooms for retail and wholesale businesses and warehouse facilities
The Duqm Material Market – the first project of the Sino-Omani Industrial Park in Duqm SEZ – is jointly developed as a strategic partnership between Oman Wanfang, developer and operator of the China-Oman Industrial Park in Duqm, Al Thabat Holding Company, an investment company active in infrastructure activities, and Oman Company for the Development of Special Economic Zone at Duqm (Tatweer). The first phase of the project is now about 40 per cent complete.
In an interview with Duqm Economist magazine, Liu Minghua, CEO of Duqm Material Market Company, said the project will enable local and international companies to market their products.
“This project is intended to bring a new concept of malls different than other Chinese malls in the Sultanate of Oman. This project aims to bring Chinese commodities and manufacturing capacity to the Sultanate of Oman. Its focus will be mainly on wholesale demands for local and international markets in terms of exporting products”, Phase 1 of the project is being developed on 30,000 sq metres of land out of the total 80,000 sq metres allocated for the complex. Depending upon demand growth opportunities, two more phases are planned as well.
The CEO noted that the project will target local and regional markets as well as North-East African countries. As a building materials market, steel is the major range of products that will be traded. It will also feature textiles, which enjoys great demand in Saudi Arabia and Ethiopia. Light chemical products targeted at Somalia will be showcased as well.