The Public Authority for Special Economic Zones and Free Zones (OPAZ) has signed an investment usufruct agreement with South Korean company EL B&T to develop electric vehicle and battery manufacturing operations in Duqm. The partnership represents a significant commitment to expanding the region’s industrial capacity in the growing electric vehicle sector.
EL B&T, a Korean electric vehicle technology company, will establish its manufacturing unit within Duqm’s special economic zone. The facility is expected to support Oman’s economic diversification efforts and create employment opportunities in the industrial sector.
The agreement demonstrates OPAZ’s continued efforts to attract foreign investment and develop infrastructure in Duqm. The project aligns with broader regional initiatives to advance technology-driven industries and sustainable manufacturing practices.
Source: Oman Observer | May 10, 2026