Sultanate of Oman aims to increase revenue from the logistic sector
In line with implementing the Sultanate’s aspirations to increase revenue from the logistic sector, in accordance with the objectives of ‘Oman Vision 2040’, SOHAR Port and Freezone signed a Development Agreement with Hutchison Ports Sohar.
The agreement will see a joint study conducted for the expansion of SOHAR Port alongside the addition of a new container terminal capable of receiving mega-vessels.
The study will commence this year and will assess the social, environmental, logistical, In-Country Value and economic impacts of any future expansion.
Moreover, it will provide a clear roadmap for future expansion to meet the needs of the growing local and regional economy.
Apart from enhancing the competitiveness of SOHAR Port, at the regional and global levels, especially in containers and cargo handling, it will further contribute towards the generation of more local job opportunities.
SOHAR Port is currently witnessing a growing occupancy rate and efforts should be enhanced to increase its capacity, to enable it to keep pace with future development.
The addition of new areas will increase the attractiveness of the Port and comprise the necessary infrastructure to attract important international shipping lines.
The successful implementation of the project is set to bring in sustainable economic and social benefits for the Sultanate as a whole, and in particular the Governorate of North Al Batinah.