Oman's Duqm Port Expansion Project: Green Hydrogen Fueling Industrial Growth
Key Ideas
- Investcorp Aberdeen Infrastructure Partners to join consortium for $550 million Duqm port expansion project.
- Duqm to leverage solar and wind power for green hydrogen fuel production, supporting low-carbon iron and base metal products.
- Omani Ministry promotes green steel production in Duqm to retain European labor-intensive work, facilitating finished iron and steel goods.
- Hydrom awards contracts for 18 gigawatts of solar and wind power to produce green hydrogen, involving international and Omani companies.
Investcorp Aberdeen Infrastructure Partners, in collaboration with the Port of Duqm Company, DEME Group, and Port of Antwerp, has secured a project to enhance Duqm's port facilities with a $550 million investment. The expansion includes marine infrastructure works, dredging, and the construction of a new quay wall to support industrial growth in the Duqm Special Economic Zone. Importantly, the project aims to utilize renewable energy sources from Duqm's desert hinterland to produce green hydrogen fuel. This hydrogen will be instrumental in manufacturing low-carbon iron briquettes and base metal items. Dr. Firas Al Abduwani from the Omani Ministry of Energy and Minerals is advocating for the use of Oman's renewable energy to produce low-carbon semi-processed iron in Duqm, emphasizing the importance of retaining labor-intensive work in Europe for the production of steel goods. Additionally, the Omani parastatal Hydrom has signed contracts with major international companies to generate 18 gigawatts of solar and wind power, with a focus on green hydrogen production. The green hydrogen output from these projects is already earmarked for future use. Mohammed Al Ardhi, the head of Investcorp Aberdeen's Bahrain office, brings significant experience to the project, having invested in various schemes in the Gulf. The initiative not only underscores the shift towards sustainable practices in the energy sector but also highlights the potential for large-scale infrastructure development in the GCC region.
Topics
Green Hydrogen
Renewable Energy
Infrastructure
Investment
Energy Sector
Sustainable Development
Steel Production
GCC
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