Oman Tank Terminal Company (OTTCO), a subsidiary of OQ Group, has signed a deal with Royal Vopak to set up a joint venture in the Special Economic Zone at Duqm (SEZAD).
According to the agreement, OTTCO will own 51% and Vopak 49% of the new company, which will develop and operate energy storage and terminal infrastructure at Duqm, Oman. The facilities will serve both conventional fuels and new low-carbon energy products.
The deal combines OTTCO’s experience in crude storage and transport with Vopak’s global expertise in terminal operations.
OTTCO Managing Director Eng. Salim bin Marhoon Al Hashmi said the partnership will help unlock Duqm’s potential as a hub for sustainable industrial growth.
