HE Dr. Al-Sunaidy heads OPAZ delegation visiting Japan

April 24, 2024

HE. Dr Ali bin Masoud Al Sunaidy, Chairman of the General Authority for Special Economic Zones and Free Zones (OPAZ), met with HE Saito Ken, Japanese Minister of Economy, Trade and Industry in Tokyo in the presence of HE Dr. Mohammed bin Said Al-Busaidi, Ambassador of the Sultanate of Oman to Japan and the accompanying delegation. They discussed the most significant projects being built in the Sultanate of Oman's economic zones, free zones, and industrial cities. The most significant project is the low-carbon iron production project, which is in the Special Economic Zone at Duqm (SEZAD). They also reviewed the economic cooperation between the two nations during the meeting.

Al Sunaidy and the accompanying delegation met with a number of representatives from companies producing reduced iron and its derivatives, manufacture equipment for the production of renewable energy, build aircraft, ships, and other vehicles, stations for receiving, storing and exporting hydrogen, in addition to conferences with other financial organizations to go over chances to fund targeted projects.

The delegation was also briefed on the experience of Yokohama Port in receiving ships specialized in transporting energy and petroleum products and receiving and storing vehicles. Along with these meetings, His Excellency had meetings with the mayor of Yokohama City and several Yokohama Port officials. Possibilities for important domains of cooperation between the Ports of Yokohama and Duqm were discussed. His Excellency and the accompanying delegation will also meet with His Excellency the Governor of Yamanashi Prefecture during a visit to the Hydrogen Production Center and the National Center for Energy Conversion and Storage Technologies.

It is worth mentioning that in April 2023, OPAZ a Memorandum of Understanding (MoU) with Kobe Steel, and Mitsui & Co. Ltd. alliance for the establishment of a reduced iron factory with an estimated annual production capacity of 5 million tons in SEZAD. Along with signing MoU with Centralized Utilities Company (Marafiq) and a land reservation agreement with the Port of Duqm Company. The two companies also agreed to supply energy and water services to the project. OPAZ hopes to expand this alliance to include other Japanese and foreign companies to merge with this alliance and benefit from the location of Duqm and other free zones to establish industries based on wind and solar energy.