Dubai's DP World to develop new special economic zone in Oman
Dubai-based DP World will oversee the development of the first phase of the special economic zone (SEZ) in Al-Rawda in Oman.
The state-owned Public Authority for Special Economic Zones and Free Zones (OPAZ) has signed an agreement with Mahdah Development Company, represented by DP World, for the development and operations of the first phase, OPAZ said in a post on the X platform.
The agreement for the first phase of the SEZ will extend for 50 years and cover 14 square kilometres ( sq km)
The SEZ, which will cover a total area of 56.8 sq km, aims to boost trade links between Oman's Sohar Port and Dubai's Jebel Ali Port.
Oman-based ASYAD Group will manage the zone's land port, the post said.
The first phase will target pharma and medical, logistics and warehousing, manufacturing, food and plastic, mining and service-based industries.
Under the usufruct agreement, Mahdah can expand the SEZ area to 25 sq km after submitting a detailed development plan.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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