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FINANCIAL NEWS
Oman plans waterfront development project at USD 1.3bn
05 Jan 2016
(MENAFN) Oman is planning a USD 1.3bn waterfront development around Port Sultan Qaboos in the capital Muscat, which will be paid for by investment from the private sector.
Furthermore, the project showed an increased role for outside investment to support keeping development projects at a time of lower oil prices.
In addition, it will be finished through four phases up to 2027; will be 51 percent state-owned over the Oman Tourism Development Co (Omran).
The country intends to reduce its budget shortage to USD 8.53bn this year from a real USD 11.64bn last year.
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