SINGAPORE (Mar 5): Sembcorp Industries announced that its wholly-owned subsidiary, Sembcorp Utilities (Oman), will be exiting its joint venture (JV) with its partner Takamul Investment, a subsidiary of Oman Oil Company. 

To recap, Sembcorp in 2013 announced that Sembcorp Utilities (Oman), then a newly-incorporated subsidiary, signed a JV agreement with Takamul to develop centralised utilities facilities for the Duqm Special Economic Zone (SEZ). 

CUC, a 65-35 JV Oman entity between Takamul and Sembcorp, was set up as the utilities developer for the Duqm SEZ. 

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