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FINANCIAL NEWS
Oman’s Sohar Industrial Port to be expanded
04 Feb 2013
(MENAFN) Oman plans to expand the waterfront area at Sohar Industrial Port to meet growing demand from potential investors, Oman Daily Observer reported.
Sohar Industrial Port, opened in 2008, is jointly operated by the government and the Port of Rotterdam.
The Majees Reclamation Project will create around 130 hectares of prime waterfront allocated for, among other potential investors, a petrochemical venture by Oman Oil Co as well as additional tank farm capacity planned by an existing tenant.
The new projects are expected to begin operating as early as 2015.
USD13 billion has been invested in the port’s 2000 hectares area since its opening, according to the port’s website, making it a key economic driver for the Gulf country.
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