China-Arab Wanfang Investment Management (Ningxia) Co. Ltd was established in 2015, under the leadership and supporting of Chinese Ningxia Autonomous Region Government, consists of Ningxia Shunyi Assets Management Ltd, Ningxia Water Investment Group Co. Ltd, Ningxia Construction Investment Group, Ningxia Residence Group Co. Ltd, Yinchuan Yushun Oilfield Services Technologies Co.Ltd, Yinchuan Fangda Electric Engineering Company, and Ningxia SME(Small and medium enterprises) Association.
In response to the national strategy “the Belt and Road” also known as “One belt, One road”, the company established China-Oman (Duqm) Industrial Park at Duqm of Oman, where in its ambition to develop a series of modern industries.
Oman Wanfang LLC is its subsidiary company registered at Duqm of Oman, being the master developer of the 11.72 square km China-Oman (Duqm) Industrial Park, is implementing all related works including construction of infrastructure and standard factories, attracting investment from China’s reputed companies.
The total investment is estimated to be US$ 10.7 billion for building the entire Industrial Park, which comes from Chinese companies and bank financing.
The foundation stone for Industrial Park was laid in April 2017 under the auspices of H.H. Taimor bin Asa’ad al Said, in witness of ministerial-level officials and dignitaries from both sides of Oman and china.
10 projects worth over US$ 3 billion were signed by Oman Wanfang LLC and its investors from China, at the same date as foundation laying, these are: Building materials market, 10 million tons of methanol and methanol to olefin project, power station, Co-production of Seawater Desalination and Bromine Extraction, High-mobility SUV Project, Annual 1GWp solar Equipments Manufacturing Base, Manufacture of Oil Country Tubular Goods (OCTG), Manufacture of Non-metal Composite Pipes used for Oilfield, Manufacture of Steel Thread Frame Reinforced PE Pipes and its Parts, Five-star Hotel Project.
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