Oman’s Sohar Port and Freezone is seeking to draw in billions of dollars in additional investment, as the first phase of the project nears full occupancy, according to a media report.
The expansion will increase annual throughput to more than 2.5 million tonnes of cargo, over $5 billion in investment and an addition of 500 hectares of leasable land, the Oman Daily Observer reported.
Sponsors want to see 300 to 700 jobs created, while more than 85 percent of the project components will be supplied by local contractors and suppliers to promote localisation.
The expansion will start with the award of a design services package followed by construction and the lease of land to businesses, the report said. No other details on the tender were disclosed.
The freezone on the Arabian Gulf in the north of the sultanate covers 4,500 hectares and has attracted investment worth $30 billion to date.
Sohar Port is a deep-sea port and is an equally-owned joint venture between the Omani government and the Port of Rotterdam, according to the Sohar Port and Freezone website.
Work has started on Hafeet Rail, a $3bn project to connect the freezone to the neighbouring UAE by railway.
Sohar, the largest port and industrial complex in the sultanate, handles almost 60 million tonnes of cargo.
Register now: It’s easy and free
AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.
Why sign uP
Exclusive weekly email from our editor-in-chief
Personalised weekly emails for your preferred industry sectors
Read and download our insight packed white papers
Access to our mobile app
Prioritised access to live events
Already registered? Sign in
I’ll register later
