Oman: Agreement on Dry Dock yard project signed
The Omani government has signed at the Ministry of Finance premises in Muscat an agreement for management and operation of Duqum Dry Dock yard project in the wilayat of A’Duqum with Daewoo Ship Building and Marine Engineering Co. Ltd. of Korea.
Ahmed bin Abdul Nabi Macki, Oman's Minister of Finance and National Economy, deputy chairman of the Financial Affairs and Energy Resources Council, signed on behalf of the Sultanate’s government while Nam San-Tae, Daewoo Chief Executive officer and President signed on behalf of his company.
As per the ten years agreement, Daewoo ship building and marine engineering Co. Ltd., will provide administrative and technical support, transfer of modern technology used for ship repairing and maintenance of the dock yard project in A’Duqum.
Macki said the dry dock yard project is one of the important strategic projects that may contribute to a new financial source of income in the Sultanate.
In a statement to Oman News Agency (ONA) Macki said the project feasibility study reflects the significance of the projects location in serving international shipping considering A’Duqum port proximity to the busy regional sea-lanes traversing Oman’s coastal waters.
Macki, said the Sultanate’s government will invite a number of international firms for public tender. He said construction of the ship dry dock project will commence in the 1st quarter of 2007. He said in designing of the new dock yard future expansion of the project and possibility of providing ship manufacturing services have been considered.
The project is located at Ras A’Duqum and occupies 1 million and 163 thousand square metres. It comprises construction of two docks and one floating dock to repair and maintain oil and gas tankers of 100,000 ton capacity. For this purpose the government recently established a company called Oman Dry Dock Company.