(MENAFN) The UAE's Ghantoot Group, which has interests in infrastructure development, engineering services, utilities and transport, announced it has plans to invest around USD700 million in a bio-fertilizer plant proposed at the Special Economic Zone (SEZAD) in Duqm, Oman Observer reported.
The Abu Dhabi- based group said that this proposed venture will be a continuation of the growing portfolio of investments planned by the company in the Sultanate, which include several utility and hospitality projects and which will create jobs of Omanis and contribute to the local GDP.
The proposed bio-fertilizer facility at Duqm, which will integrate both captive power and carbon capture, will help the agriculture as well as oil and gas sectors processes.
"We are pleased to be investing in Oman at a time when the government is undertaking rapid modernization efforts to drive the economy forward. I am confident that our initiatives would contribute for a positive change in the country's development." Managing Director of Ghantoot Group said.
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