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FINANCIAL NEWS
Duqm port holding talks for new projects
21 Apr 2014
(MENAFN) The Omani port of Duqm is currently holding talks with four mineral processing and refining companies to establish new project at the industrial zone’s mining cluster, Times of Oman reported.
The commercial director of Duqm Port said these mineral processing companies include three foreign firms from the Middle East and Europe and one from Oman.
Based on Omani government new regulations, the mineral companies are banned from exporting minerals in raw forms. Rather, they are expected to add value to the exported products, as the government wants its mineral products to be processed in the country to gain value addition.
The director elaborated “We are also considering import of minerals in big quantities to add value and export it,” adding that logistic elements such as land and natural gas form an important role in such projects.
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