MUSCAT : Oman’s Special Economic Zone at Duqm (SEZAD) has secured investment commitments worth $7.5 billion from companies spanning Asia, Europe and the Middle East, underscoring growing international interest in the industrial hub as it positions itself as a centre for clean energy, advanced manufacturing and export-oriented industries.

The agreements, signed at a ceremony in Duqm on Monday, cover sectors including green hydrogen, green ammonia, battery materials, power generation, petrochemicals, tourism and industrial infrastructure. The projects are expected to create jobs, strengthen supply chains and support Oman’s efforts to diversify its economy beyond oil.

Among the largest commitments, renewable energy developer ACME will invest $4.2 billion to develop the second and third phases of its green hydrogen and green ammonia project across 10 square kilometres in Duqm. Once operational, the facilities are expected to produce 800,000 tonnes of green ammonia and 142,000 tonnes of green hydrogen annually, with commercial operations targeted for 2030 and 2033.

A Chinese manufacturer will invest $500 million in a battery anode materials plant serving the lithium-ion battery industry. Production is planned to increase from 2,000 tonnes annually in the initial phase to 5,000 tonnes in the second phase, supporting the localisation of silicon-carbon anode supply chains and exports linked to the electric vehicle sector.

India’s TROT Holdings signed a memorandum of cooperation to establish a $500 million integrated industrial complex covering one million square metres. The development, to be completed in four phases, aims to attract Omani and international light-industry companies.

In a separate agreement, Jindal Shadeed Oman will invest $78 million in a residential community for employees on a 460,000-square-metre site. The project will comprise 500 housing units and supporting facilities to accommodate a growing industrial workforce in Duqm.

Infrastructure investments also featured prominently in the latest round of agreements. An Omani-Korean consortium plans to develop an 890-megawatt power station with an investment of $910 million. Early commissioning is expected in 2028, with full commercial operations scheduled for 2029.

State-owned OQ Group signed a memorandum of cooperation for a $750 million natural gas liquids separation and processing plant in Duqm’s petrochemical zone. The project is expected to supply feedstock for downstream industries and strengthen integration between the energy, logistics and manufacturing sectors.

Tourism developer Ruby Investment & Development committed $480 million for a mixed-use project comprising two hotels, a shopping mall and office spaces, reflecting increasing investor confidence in Duqm as a destination for business and leisure.

Speaking at the signing ceremony, OPAZ Chairman His Excellency Qais Al Yousef said the investments reflected confidence in Duqm’s industrial ecosystem, citing its large-scale industrial land availability, port access, energy infrastructure and connectivity to regional and international markets.

The agreements come as global demand grows for low-carbon industrial materials, battery components and green fuels, sectors in which Oman is seeking to establish a competitive position through large-scale projects and strategic export links.

Oman’s foreign direct investment stock reached $81.3 billion at the end of 2025, up 8.1% from a year earlier, while non-oil export activities contributed $17.3 billion to the national economy, according to figures cited during the event.

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