Latest news with #AbdullahbinSulaimanalWahaibi
Muscat Daily
27-04-2025
- Business
- Muscat Daily
Tatweer plans to implement several new projects in Duqm zone this year
Muscat – Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer Duqm) is planning to implement several new projects this year aimed at enhancing investment in the Duqm area. The projects will be implemented through both new developments and the management of existing assets or the initiation of new investment ventures, according to the CEO of Tatweer Duqm. Key planned projects include the construction of a central fish market in Duqm and the launch of an abalone farming facility that adheres to aquaculture standards. These initiatives aim to develop the fisheries sector and increase its economic returns. Other planned developments include tourism, real estate, entertainment, retail, commercial services, and green energy projects. The company also intends to develop an integrated residential complex to enhance the quality of life in Duqm, along with other projects currently under study with investors, according to a press statement. Tatweer Duqm announced that the asset portfolio it manages in the Special Economic Zone at Duqm (SEZAD) rose to approximately RO1.2bn by the end of 2024. Eng Abdullah bin Sulaiman al Wahaibi, CEO of Tatweer Duqm, said that the company is working to improve the investment environment in SEZAD by leading strategic and high-quality infrastructure projects that have been implemented in recent years. He noted that Tatweer Duqm, established in 2014, focuses on stimulating the business and investment environment in Duqm through various initiatives, guided by Oman Vision 2040 and the SEZAD strategy for the period 2025–2030. Wahaibi said that, over the past years, Tatweer Duqm has overseen the execution of numerous strategic projects in SEZAD, most notably the completion of various packages for Duqm Port, the implementation of utility facilities, and the development of water and wastewater networks, as well as the management of both primary and secondary road infrastructure projects in the zone. He explained that Tatweer has successfully implemented more than 46 projects over the past five years. In addition, its internal management of seven projects has saved over RO12mn, reflecting the company's technical expertise, the competency of its Omani workforce, operational efficiency, and adherence to robust governance standards. Wahaibi explained that, in line with its commitment to service quality and asset sustainability according to international technical standards, the company, through its Omani technical staff, manages a portfolio of public assets and facilities in SEZAD worth around RO1.2bn. These include wastewater treatment plants, major and secondary roads, public facilities, dams, water drainage channels, parks, and administrative buildings. The company's asset management scope includes operation and maintenance, as well as oversight of sustainability and coordination with operators of key projects such as the Port of Duqm, Duqm Airport, the dry dock, the government berth, and other developments. Wahaibi added that this year is expected to see the completion of the internal road network in the Saay Commercial District, water drainage systems, the district's wastewater network, the second phase of the dualisation of National Road No. 32, and the dualisation of the road from Duqm Airport to Ras Markaz. He also highlighted Tatweer's role in enabling investment and maximising returns in the Special Economic Zone at Duqm. As a local minority shareholder, Tatweer offers on-the-ground support for project developers across various sectors. This includes assistance in site selection based on sector needs, company registration, obtaining approvals and permits, and guiding investors in securing financing from local banks and funding institutions. He also emphasised that the company is keen to attract local financing houses to contribute through equity or quasi-debt instruments. Regarding key projects established by the company, Wahaibi revealed that Tatweer holds a 15% stake in the logistics company 'Imdad Logistics,' formed to enhance logistics services in Duqm. This has become one of the success stories in the Special Economic Zone at Duqm. Additionally, Tatweer is one of the investors, alongside a local and an international partner, in Duqm Materials Market, a commercial and logistics project supporting supply chains. The market, in which Tatweer also owns a 15% stake, was inaugurated last year and has achieved a high occupancy rate by global, regional, and local companies.
Observer
26-04-2025
- Business
- Observer
Tatweer's asset portfolio in Duqm tops RO 1.2 billion
DUQM: Oman Development Company for the Special Economic Zone at Duqm (Tatweer) announced that its asset portfolio has grown to approximately RO 1.2 billion by the end of 2024. Tatweer, the executive and investment arm of the Public Authority for Special Economic Zones and Free Zones, manages a wide range of public assets and facilities across Duqm. These include wastewater treatment plants, main and secondary road projects, public amenities, dams, drainage channels, parks, and administrative buildings. The company also oversees the operation, maintenance, and sustainability of key infrastructure such as Duqm Port, Duqm Airport, the dry dock, the government wharf, among other projects. Eng Abdullah bin Sulaiman al Wahaibi, CEO of Tatweer, said the company has played a crucial role in enhancing the investment environment at the Special Economic Zone at Duqm (SEZD) through the development of strategic projects and high-quality infrastructure over the past years. He noted that Tatweer has successfully completed more than 46 projects over the past five years and internally managed an additional seven projects, resulting in savings of over RO 12 million. "This achievement reflects the company's technical expertise, led by skilled Omani professionals, as well as its operational efficiency and adherence to governance standards," he said. Among Tatweer's major undertakings is the development of road infrastructure in Duqm, with road projects alone valued at around RO 210.4 million. Last year, the company completed several phases of the dualisation of Southern National Road No. 32 (Sultan Said bin Taimur Road), improving traffic flow and supporting the growing investment activity in the zone. Looking ahead, 2025 will see the completion of several key infrastructure projects, including the internal road network, drainage systems, and sewage networks in the Say commercial district, as well as the second phase of the dualization of National Road No. 32 and the dualization of the road linking Duqm Airport to Ras Markaz. Eng Al Wahaibi stressed Tatweer's focus on enabling investment and maximizing economic returns. The company supports the business environment by forming strategic partnerships with companies and investment funds, targeting joint investments in enabling and economically sustainable ventures. Tatweer also assists project developers in selecting sites, registering companies, securing approvals and licenses, and accessing financing through local banks and funds. Highlighting Tatweer's recent investment initiatives, Al Wahaibi said the company holds a 15% stake in Imdad Logistics, a strategic logistics provider in Duqm. Tatweer also invested in the Duqm Materials Market, another project where it holds a 15% stake. Since its opening last year, the market has seen strong uptake from local, regional, and international companies. Tatweer also achieved a milestone by selling its stake in Duqm Quarries Company, generating a return of over RO 1.8 million. Al Wahaibi said the company plans to build on this success by expanding investments in promising sectors such as logistics and industry, following a model that balances profitability with developmental impact. Future plans include the establishment of the Duqm Central Fish Market and a specialized abalone farming project to support the fisheries sector. In addition, Tatweer aims to launch projects across tourism, real estate development, entertainment, retail, commercial services, and green energy sectors. A new integrated residential complex is also planned to enhance the quality of life in Duqm. Al Wahaibi emphasized that Tatweer has transitioned to a flexible, performance-based, fee-driven business model, moving away from a cost-recovery approach. This new model aims to grow the company's revenues by expanding its service offerings to investors in the Special Economic Zone at Duqm. — ONA
