Port of Duqm presents business opportunities for oil, gas sector

Scion Industrial Engineering

Port of Duqm Company (PODC), in collaboration with Oman Society for Petroleum Services (Opal) and Oman logistics Association (OLA) organised a forum on ‘Business Opportunities at Port of Duqm’, which attracted oil and gas companies operating in the Sultanate of Oman.

The forum aimed at encouraging business collaboration with Port of Duqm, where a large number of professionals from the oil and gas sector joined forum.

The Port of Duqm is currently supporting the oil and gas industry, serving both the upstream and downstream sectors. Further growth in cargo volumes is expected as downstream petrochemical projects developed in Duqm. Eventually, the Port of Duqm will essentially be serving Al Wusta Governorate particularly, which is rich in oil and gas.

Speaking on the occasion, Reggy Vermeulen, CEO of Port of Duqm, pointed out, “The Port of Duqm is rapidly becoming a new commercial gateway, thanks to its strategic location. While unlocking its full potential to further grow its activities, the Port is opening up great prospects for cooperation, creating business opportunities in the oil and gas sector. It is standing as a port of call and a hub of economic activity for key corporates and oil and gas players.”

“The port is, further, facilitating the import of raw materials and re-export of goods. Capitalising on its existing infrastructure and abundant land area, the Port offers opportunities to accommodate storage and distribution facilities for oil and gas cargo logistics. This is based on the rise of cargo operations, which we are currently servicing while intending to offer space leasing for cargo too. It is the clear vision of the Port of Duqm to become the region’s most preferred multi-purpose port, and the entire marketing strategy is built around that. In view of that, all major shipping lines like Maersk, CMA CGM, MSC, Hapag Lloyd, Evergreen have acknowledged Duqm as the end destination for their containers, and containerized cargo is being shipped to and from Duqm accordingly,” the CEO added.

On the other hand, Abdul Rahman Al Yahyaei, CEO of Oman Society for Petroleum Services (Opal), said, “The Special Economic Zone at Duqm is offering several investment opportunities and I’ve witnessed incredible growth and development in the recent past. Oman is taking a serious aspiration for the establishment of attractive projects in Duqm while the infrastructure is being upscaled almost on daily basis.”

Such business forums undoubtedly bring fruitful outcomes and benefits for all participants, including corporates and individuals alike. Further, the attendees were familiarized with the key achievements of Port of Duqm, and the future promising plans and strategies for its development. In due course, they have commended the Port of Duqm’s taking the lead in organizing such an enlightening economic forum.

Source:https://timesofoman.com/article/121594-port-of-duqm-presents-business-opportunities-for-oil-gas-sector

3 reasons why to invest in Egypt, ITIDA’s CEO explains

Scion Industrial Engineering

Working on becoming an attractive hub for foreign investments, Egypt offers a variety of incentives and advantages for investors; CEO of Egypt’s Information Technology Industry Development Agency (ITIDA), Amr Mahfouz, reviews three reasons why investors would prefer Egypt to invest in.

Mahfouz told the Polish-English business magazine, Focus on Business, that the first and the highly positioned reason is Egypt’s unique position at the nexus of Europe, Africa, and the Middle East. It is considered a nearshore location to Europe and it shares an Eastern European Time (EET) zone.

“Second, Egypt is home to a large multilingual cost-competitive talent pool of +600k annual graduates; Egypt is therefore strongly pivoted to serve the EMEA region due to the availability and abundance of multilingual skills, time zone, and cultural affinity,” he added.

According to Mafhouz, the third reason is that Egypt offers a set of attractive incentives to foreign investors provided through the entire business lifecycle, aiming at tripling the size of Egypt’s BPO and ITO exports over the next five years.

He pointed out that Egypt has long been an attractive GBS location for multinationals with its large, well-educated talent pool, strategic location, European time zone, and reliable infrastructure. Amid the current global situation where the supply chain of many industries is being disrupted and reshaped, and hence the IT offshoring is not an exception.

“We firmly believe that this time for Egypt to have its fair share of the global business services market while emerging as an economic powerhouse in the region, enabled by the recent structural reforms and Egypt Vision 2030 national agenda,” he added.

ITIDA’s CEO stated that many businesses are diversifying their operations and delivery location portfolio where we see Egypt is very well positioned to cater for the global demand and bridge the digital skills gap and global shortage of talent.

This came during his interview with the English-Polish magazine where he discussed the Information and Communications Technology (ICT) sector in Egypt and steps taken by Egypt to become the next big hub for digital and high-end services.

Source:https://www.egypttoday.com/Article/3/117968/3-reasons-why-to-invest-in-Egypt-ITIDA%E2%80%99s-CEO-explains

H2 Industries, Madayn to develop $1.4 billion waste-to-hydrogen plant in Oman

scion Industrial Engineering Pvt. Ltd.

H2 Industries and Oman’s Public Establishment For Industrial Estates (Madayn) have signed a memorandum of understanding (MoU) to develop a waste-to-hydrogen plant in conjunction with PV solar power plants with base-load capacity in the sultanate of Oman. The proposed $1.4 billion facility will be built on a 200,000 square metre coastal site.

The facility will initially convert up to one million tonnes of municipal solid waste each year sourced from waste management operators and mined from existing landfills but has the capacity to expand to manage up to four million tons of waste.

“This is an exciting opportunity and one that will take the tonnes of waste that collects in Oman and turn it into green hydrogen,” the executive chairman of H2 Industries, Michael Stusch said.

“The $1.4 billion investment into Oman will make a substantial contribution to the country’s waste management strategy and demonstrates how fighting climate change and enhancing environmental protection can go hand in hand and benefit all stakeholders.”

The project also includes the construction of a 300 MW base-load capable PV solar installation that will include 70 MW of electrical storage.

The annual production of hydrogen and CO2 generated from the waste has an export value of over $268 million, comprising 67,000 tonnes of green hydrogen and on million tonnes of CO₂.

Although the primary function of the plant is to produce green energy without environmentally harmful emissions, it also offers additional benefits to the region.

The project will allow Oman to develop an effective waste management system, creating employment and delivering other socio-economic benefits.

Tackling waste management challenges

Municipal solid waste management is a challenging issue for the Sultanate of Oman. With a population of almost three million inhabitants, the country produces about 1.9 million tons of solid waste each year.

The per capita waste generation in Oman is more than 1.5 kg per day, among the highest worldwide.

H2 Industries’ proprietary technology transforms organic waste including plastic, sewage sludge, and existing landfill waste in a thermos-chemical process into green hydrogen and pure CO₂.

This is achieved without the use of external electricity or burning waste, making the entire process emission free.

The green hydrogen produced from that process can be transported and stored, using H2-Industries’ Liquid Organic Hydrogen Carrier (LOHC) technologies, and released on demand for use in industrial applications.

Once the pre-development and permitting phase is completed, the facility will start producing hydrogen in approximately 30 months.

The green hydrogen produced at the facility can be sold and transported for international use or, alternatively, H2 Industries can create low-cost synthetic diesel (eDiesel) or sustainable aviation fuel (SAF), with the captured CO2, which is the only emission in this process, depending on international market demand.

https://www.arabianbusiness.com/gcc/oman/oman-industries/h2-industries-madayn-to-develop-1-4-billion-waste-to-hydrogen-plant-in-oman%EF%BF%BC