Oman has $20 billion worth of transport investments under its sleeve
Oman is paving the way for future growth by developing a more modern and integrated transport infrastructure with the awarding of airport and roads project worth $20 billion, said a experts at a key forum in Muscat.
The Oman Projects Forum opened today (October 29) under the theme, “Winning Oman’s Mega Projects by Adhering to the Sultanate’s In-Value Country Requirements” at the Grand Hyatt Muscat.
The event is being held in partnership with Oman’s Ministry of Commerce & Industry and aims to provide stakeholders valuable insights into future tenders and how to get a piece of Oman’s projects markets, with knowledge of the sultanate’s specific country pre-requisites.
Opportunities and challenges in Oman’s projects market across strategic sectors – transport, tourism, oil & gas, healthcare, power & water, industry and construction - will be the subject of discussions at the event.
According to top government officials, transportation projects (airport and roads) form the largest portion of Oman’s civil projects, with over $20 billion worth of contracts either in the pipeline or up for tender.
Among the most strategic projects include the $300 million Ras al-Hadd airport package 3, which is up for tender; and the $2.6 billion Batinah Expressway project, a six-package deal that has already been awarded to contractors, except for Package 2, they added.
In his opening address, Edmund O’ Sullivan, the chairman of Meed Events, said: "The conference provides an ideal platform for developers, operators, contractors and PMCs to network and do business with key Omani government stakeholders while discussing the challenges and opportunities of building, financing, resourcing and operating/maintaining the mega projects that Sultanate is developing over the coming few years."
The experts said that Oman’s projects market had proved to be a stable source of opportunities for local and international contractors, they stated.
In terms of annual contract awards, it is the most stable market rarely experiencing wide fluctuations in the value of contracts awarded each year, hovering between $6 billion to $8 billion annually.
In recent years, these have included its airports programme, its extensive new road and expressway plans, and its wastewater and sewerage projects, they added.
The other project to be discussed at the forum include the Salalah Port expansion initiatives including the $143 million general cargo and liquid bulk terminal and how this adds value to Oman’s economic diversification.
Also the experts will spotlight the $13 billion worth of heavy manufacturing and industrial projects such as Takamul’s metal projects, Haya Water’s TSE and wastewater projects opportunities valued at $545 million and Oman Oil Company’s Ras Markaz crude storage terminal.
This year’s event will also feature a number of streamed sessions which will tackle project opportunities in Oman’s strategic growth sectors.
Ministerial keynotes at the event will be from Sayed Bin Hamdoon Al Harthy, the undersecretary, Ports and Sea, Ministry of Transport & Communications; Nasser Al Jashmi, the undersecretary, Ministry of Oil and Gas; Salim Al Aufi, the CEO of Public Authority for Civil Aviation and Dr Ali Talib al Hinai, the undersecretary (Planning) for Ministry of Health.
The second day presents a world economic and forecast in which experts will provide key insights, in light of recent events, on whether a new financial bubble is developing, and how it will impact on the economy of Oman; in addition to key discussions and presentations on Oman’s emerging SME sector.
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