The project will be developed in two phases, with an annual production capacity of 60,000 vehicles.
Oman Public Authority for Special Economic Zones and Free Zones has signed an investment usufruct agreement with South Korean EV technology company EL B&T to develop an electric vehicle and battery cell manufacturing project in the Special Economic Zone at Duqm.
Valued at around $250 million, the project will be implemented in two phases. Once Phase II is completed, it is expected to achieve an annual production capacity of 60,000 vehicles and 1.6 million battery cells, according to the Oman News Agency (ONA).
The first phase of the project spans approximately 467,000 square metres, while an additional 429,000 square metres has been designated for the second phase.
The project is part of Oman’s broader strategy to boost industrial investment and reinforce its position in advanced manufacturing and electric vehicle supply chains within the Duqm economic zone.
It is also expected to help build an integrated industrial ecosystem for the EV sector in the region by strengthening battery and component value chains, while encouraging the future entry of related and complementary industries.
In Phase I, the project will primarily target demand within Oman’s domestic market, with plans to progressively expand into the GCC region, the wider Middle East, and North African markets.
