The driving force behind the development of the Special Economic Zone at Duqm, Oman (SEZAD) has forged an exclusive partnership framework agreement with Royal Vopak, the world’s leading independent tank storage company. This alliance, announced on April 15, sets the stage for accelerated growth and the establishment of Duqm as a premier integrated hub for hydrocarbons, chemicals, and low-carbon products.

The collaboration leverages Vopak’s extensive and globally recognized expertise in developing and operating large-scale terminal infrastructure projects. By combining OQ’s deep understanding of the Omani energy sector and its ambitious vision for Duqm with Vopak’s proven track record, the partnership aims to unlock significant future growth opportunities within SEZAD. The focus will be on developing crucial industrial and energy terminal infrastructure, as well as facilities that support the ongoing global energy transition.

This alliance holds immense potential to catalyze economic growth within Oman. It is expected to attract substantial international customers to Duqm, fostering a vibrant industrial ecosystem. Furthermore, the development of these large-scale projects will generate numerous new employment opportunities, contributing to the socio-economic development of the region. The partnership will also provide essential storage solutions for all new projects establishing themselves within the rapidly expanding economic zone.

Ashraf Al Mamari, Group CEO of OQ, emphasized the transformative impact of this collaboration, stating, “This partnership is a catalyst for Duqm’s emergence as a globally competitive energy hub. By aligning with Vopak’s international expertise, we are unlocking a new era of strategic infrastructure investment that strengthens Oman’s position in global energy flows, accelerates the energy transition, and delivers long-term value for our economy and future generations.”

Echoing this sentiment, Dick Richelle, CEO of Royal Vopak, expressed his enthusiasm for the partnership, saying, “Vopak is excited to collaborate with OQ Group on this strategic partnership in Duqm. Our combined strengths in infrastructure development will be instrumental in creating a leading energy and chemical hub serving multiple industrial customers concurrently. We are excited to support Oman’s Vision 2040.”

The implications of this partnership extend beyond mere infrastructure development. It is anticipated to significantly boost international confidence and interest in Duqm as a prime investment destination. The collaboration will attract world-class expertise and financing, aligning strategic goals and investments for long-term success. Moreover, it will provide invaluable access and networking opportunities to global talent, further enhancing the capabilities and competitiveness of the industrial hub.