Oman has signed 10 agreements and MoUs to establish new projects with an investment value of RO2.9 billion ($7.54 billion) in the Duqm Special Economic Zone, said an Oman News Agency post on the X platform.

The agreements, signed by the Public Authority for Special Economic Zones and Free Zones (OPAZ), cover the construction of a power generation station, alongside industrial facilities for the production of ammonia, electric battery components, and chemicals, in addition to industrial, tourism and residential complexes, it said.

The agreements also ⁠include a deal for the implementation of downstream phases Two and Three of ⁠the green hydrogen ⁠project of Indian renewable energy company ACME Group in Duqm at investments worth $4.2 billion.

Meanwhile, the Special Economic Zone at Duqm last month (June) celebrated the opening of Phase One of the RO10-million Maysan Square Duqm – Residence, which includes 104 housing units alongside 130 diverse commercial units.

The inauguration ceremony was held in the presence of Qais Mohammed Al Yousef, Chairman of OPAZ.

Spanning a total area of 122,000 sq m, it is the first integrated business district in the Special Economic Zone at Duqm.

Speaking at the launch, Maysan Properties CEO Sadiq Jaffer said the project is being implemented across several phases to include, upon completion, 20 buildings distributed over the residential, commercial, hospitality, and retail sectors, comprising 424 full-service residential units.