Nippon Yusen Kabushiki Kaisha (NYK Line) and the Port of Duqm Company have signed a memorandum of understanding at the Duqm Economic Forum 2025 to enhance collaboration on the development and connectivity of the port. NYK Line has identified the Middle East as a crucial strategic region, establishing its regional head office in Dubai on April 1, 2022, to strengthen its business initiatives.
Oman is recognized not only for its natural gas reserves but also for its potential in renewable energy, particularly in producing cost-competitive green hydrogen. The strategically located Port of Duqm, positioned outside the Strait of Hormuz, offers significant advantages due to its proximity to the Middle East, India, and East Africa.
The area is designated as the Special Economic Zone at Duqm, attracting various industries with incentives and ongoing infrastructure development. The port is actively promoting direct reduced iron, a green steel product, and aims to become a hub for hydrogen and ammonia production, leveraging abundant renewable energy sources like wind and solar.
NYK Line plans to engage in discussions with the port on various fronts, including support for the green steel industry and the development of sustainable transportation solutions for finished vehicles and green energy products.
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