The construction works of the first phase of the Duqm Material Market Project, one of the pioneering projects under development in the Sino-Omani Industrial Park in Sezad, have officially reached 40% completion.Â
This phase spreads over an area of well over 30,000 square meters out of the total area of 80,000 square meters that were allocated for the entire project that is by the China-Oman Industrial Park in Duqm in partnership with Al Thabat Holding Company, Oman Wanfang, and Oman Company for the Development of Special Economic Zone at Duqm (Tatweer).
The other two phases of the Duqm Material Market Project are projected to be developed in the future as the planning of these two phases depends on the success of the first phase.
Expectations for the Duqm Material Market Project
According to the Chief Executive Officer of Duqm Material Market Company, Liu Minghua the project will act as a magnet to various companies around the world. This, the CEO said could potentially transform the market into a hub for marketing and selling products.Â
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The Duqm Material Market Project has already received inquiries from numerous interested companies in China from where the market aims to bring manufacturing and commodities capacity to the Sultanate of Oman.Â
Liu explained that the project was targeting both local and regional markets especially those in the building material industry, adding that steel will often be the major range of product(s) that will be traded.
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