Oman and China plan to sign a usufruct agreement aimed at establishing a major industrial city in Duqm, which is expected to attract as much as $10 billion worth in investments by 2022, said a report.

The agreement for the China-Oman Industrial City in Duqm will be signed by the Special Economic Zone Authority at Duqm with Chinese agencies on Monday in Muscat, added the Times of Oman report.

A high-level Chinese delegation led by Wang Yong, state councillor of China will kick off a two-day visit to the sultanate today (May 22).

The Chinese guests will meet Fahd bin Mahmoud Al Said, deputy prime minister for the Council of Ministers and officials in the country.

Yahya bin Said Al Jabri, chairman of the Special Economic Zone Authority of Duqm (Sezad), will lead the welcoming party for the guests upon their arrival at Muscat International Airport, added the report.