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Sun 2 Dec 2018 09:10 PM

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French majors eye Oman economic zone for investment

Four leading French companies announce plans to explore investment opportunities in the Special Economic Zone of Duqm

French majors eye Oman economic zone for investment
The French firms will explore investment opportunities in the Special Economic Zone of Duqm, Oman

Four leading French companies have announced plans to explore investment opportunities in the Special Economic Zone of Duqm, Oman.

CMA CGM, EDF Renewables, FIVES and SUEZ announced the creation of the French Business Syndicate with the goal of assessing various investment possibilities.

In response to the recent visit to France of Yahya Al Jabri, chairman of the Special Economic Zone Authority of Duqm (SEZAD), the companies said the syndicate will further strengthen the business relationship between Oman and France.

The syndicate has showed interest in a global approach to cement factory ecosystems and related facilities including solar power generation plant and the production of alternative fuel.

The companies have also proposed to implement an educational programme to enhance the integration of young Omanis in the projects.

Al Jabri welcomed the French investments in Duqm saying the agreement reached by the four companies to study investment opportunities in the zone is in line with its aspirations.

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