Duqm EV Hub Expansion: What the Wider Green Mobility Ecosystem Means for Investors and Businesses in Oman
MUSCAT, MAY 11 — South Korean clean technology company ELB&T is set to establish more than just an electric vehicle manufacturing operations with its upcoming project in Duqm. The firm plans to develop a comprehensive green mobility ecosystem that includes electric boats, drones, batteries, and renewable energy solutions.
ELB&T recently signed a long-term usufruct agreement with the Public Authority for Special Economic Zones and Free Zones (OPAZ) to build a $250 million manufacturing hub within the Special Economic Zone at Duqm (SEZAD). In an exclusive interview with Oman Observer, Rahul Pawar, President and Group CEO of ELB&T, highlighted Duqm’s strategic location and its growing prominence as a gateway to the MENA region as key reasons for the company’s investment in Oman.
“Primarily, the connectivity of the Port of Duqm and its emergence as a gateway for the MENA region attracted us,” Pawar said. “The strong focus on green energy in Al Duqm also perfectly suits our vision.”
Pawar explained that ELB&T’s business model uniquely integrates battery manufacturing with electric vehicle technology. “We are the first company to integrate a battery plant with electric vehicle technology. Our batteries are among the safest in the world, supporting Oman’s environmental and sustainability goals,” he said.
The project will be one of the largest clean technology investments in Al Duqm, initially spanning over 104 acres. Beyond electric passenger vehicles, ELB&T aims to develop electric marine mobility systems, autonomous logistics drones, and renewable energy-powered industrial operations.
The company recognizes significant opportunities in Oman’s maritime sector, particularly in electric propulsion systems for fishing boats. “We are not limiting ourselves to cars. Boats are a niche segment and part of Oman’s heritage. We want to support fishermen’s livelihoods with affordable electric boats to reduce operational costs and environmental impact,” Pawar noted.
ELB&T’s integrated industrial platform will encompass electric vehicle manufacturing, advanced battery systems, charging infrastructure, smart energy storage technologies, and drone applications for logistics and maritime uses.
Committed to enhancing local participation, ELB&T plans to implement initiatives for in-country value, technology transfer, and skills development. Pawar revealed that the company is considering establishing a polytechnic university in Al Duqm as part of its dedication to Omanisation and future technologies. “Our focus is on in-country value and talent development. Beyond research and development, we aim to create future-ready skills in Oman. Our group chairman envisions a polytechnic university in Al Duqm,” he explained.
Additionally, ELB&T intends to collaborate with local partners to build a robust electric vehicle supply chain in Oman, potentially spanning battery materials, renewable energy, and green technology sectors. “We are not just an electric vehicle company; we are building an ecosystem for green energy and future technologies,” Pawar emphasized. “Our focus is on collaboration, knowledge sharing, and supporting the transition towards carbon credits, sustainability, and ESG-compliant industries.”
The Duqm facility will operate using ELB&T’s proprietary Combined Technology & Safety (CTS) architecture, which integrates battery systems, marine charging infrastructure, autonomous aerial logistics platforms, and renewable energy-powered manufacturing.
The company expects this initiative to bolster Oman’s economic diversification efforts by attracting foreign direct investment, creating high-value jobs, and enhancing advanced manufacturing capabilities within the Sultanate.
Dr Young Ill Kim, Group Chairman of ELB&T, described Oman as an emerging global hub for green industrialization and advanced manufacturing. “This agreement is a defining milestone in Oman’s industrial and sustainability journey. We are not merely developing infrastructure but shaping the future architecture of clean industry and building a globally connected innovation ecosystem,” he stated.
ELB&T plans to use the Duqm site as its regional manufacturing and export base, targeting GCC, African, and South Asian markets while supporting Oman Vision 2040 and the country’s broader net-zero ambitions.
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ELB&T’s $250 million investment in Duqm to build an integrated green mobility ecosystem positions Oman as a strategic hub for clean technology and advanced manufacturing, aligned with Oman Vision 2040. Businesses in renewable energy, maritime, and electric vehicle supply chains should seize growth opportunities driven by this ecosystem, while investors should monitor the emergence of high-value jobs and innovation collaborations. Smart entrepreneurs must consider local partnerships and skills development initiatives to capitalize on the growing demand for ESG-compliant, sustainable technologies in the MENA region.
