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FINANCIAL NEWS
Oman, KSA new road link to widely fuel economic growth
22 Nov 2015
(MENAFN) Oman’s first direct road link with Saudi Arabia, presently in an advanced phase of progress, is amongst a number of freight corridors identified as key to attaining the nation’s ambitions as a global logistics hub.
Accordingly, Sultanate of Oman Logistics Strategy 2040 (SOLS 2040) is an aspiring and motivated road map for catapulting the Sultanate into the ranks of the world’s top 10 logistics-centric economies by the year 2040.
This strategy is set to help fuel the growth of freight traffic within and beyond national borders, and when the road completes by mid-2016, it will enable the flow of traffic from Sohar Port all the way to Riyadh in the Saudi heartland.
“This is potentially a major new trade route that will confer a significant advantage for all the involved countries as soon as it is completed,” announced the SOLS 2040 report of the Sohar-Saudi link.
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