Investors Relations

Asyad Group signed an agreement with the Ministry of Transport, Communications, and Information Technology, OQ, Oman Oil Marketing Company, and Air Liquide Group to conduct a joint pilot study project on green hydrogen fueling station that is planned to be established in Duqm Special Economic Zone. This initiative will leverage the abundance of solar and wind energy resources in the region, in addition to its strategic location and proximity to targeted markets.  

The concept study encompasses the generation of renewable energy from solar and wind energy, green hydrogen production, the establishment of a hydrogen fueling station, and the operation of green hydrogen-fueled vehicles, including trucks and buses, all within the confines the Duqm Special Economic Zone. The study goes in line with Oman’s aspirations in utilizing green hydrogen fuel within the transportation sector, a pivotal step towards achieving zero carbon neutrality.  

Ahmed Bulushi, Chief Executive Asset Management of ASYAD Group, said: “The study comes within ASYAD Group initiatives in environment stewardship, and the efforts to reduce emissions in various operational processes, and in alignment with the Sultanate of Oman’s plan to achieve net-zero emissions by 2050. The initiative also focuses on developing land transportation assets by providing buses and trucks that operate on biofuel, which is very crucial in facilitating exploring the creation of a clean environment using pure and sustainable fuel.”  

Al Balushi emphasized that the joint study reaffirms ASYAD Group’s commitment to sustainability plans and supports green hydrogen projects within the Duqm Special Economic Zone, a key focus area encompassing ASYAD Drydock, ASYAD Terminals Duqm and the Port of Duqm.