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MoD Pension Fund signs agreement with Duqm Port and Oman SEZD Development Company

Atheer – External Sources

The Ministry of Defence Pension Fund, Duqm Port Company and the Oman Company for the Development of the Special Economic Zone in Duqm today signed an agreement regarding the construction of a closed Omani joint stock company at the Special Economic Zone at Duqm (SEZD).

This comes in a bid to increase investment from the MoD Pension Fund within the logistics sector, diversify its investment portfolio, enhance economic development at SEZD and create job opportunities for Omani nationals.

The newly established company will provide logistics and handling services.

The MoD Pension Fund is to own 55 percent of the company’s capital, with Duqm Port and Oman SEZD Development Company will own 30 and 15 percent respectively.

The project is expected to be completed during the last quarter of the current year.

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