Sohar Port undertakes investment-seeking India roadshow
Managers from the Sohar Port and Freezone have been in India this week, as part of a three-day tour to promote the Middle East gateway to South Asian investors.
Oman is looking to play an increasingly important role in the regional logistics industry and a number of roundtable discussions were held in Mumbai and Chennai focusing on the logistics centre and Sohar Port & Freezone’s role in it.
Members of the GCC have committed to the most ambitious rail project in the region’s history, with US $250-billion earmarked for the construction of a 70,000km railway network, creating a land bridge from Sohar in Oman to Kuwait.
The Port of Sohar & Freezone will be one of the first port’s in the region to get a rail link and expects to benefit significantly.
Oman’s new railway network will transform the sultanate into a major cargo hub for the region, creating a wealth of investment opportunities for Indian companies, was the message of the road show.
Thanks to the Port of Rotterdam’s experience as a European cargo rail hub, optimal rail integration has been central to the design of all the terminals in Sohar Port, a press release said.
The rapid development of the port and free zone in Sohar is a key part of Oman’s Vision 2020 programme, which aims to diversify the country’s economy beyond the oil industry.
By strengthening its connectivity, Sohar will grow its position as a logistics hub, becoming a key gateway for Oman’s ambitions of increasing its manufacturing capabilities.
“Sohar is a critical link in Oman’s commercial logistics industry and is committed to building a sustainable logistical gateway that will help Oman to achieve its Vision 2020 objectives,” says Andre Toet, CEO of Sohar Port. ”From the standpoint of Oman’s economic diversification strategy, the logistics industry has the potential to surpass the hydrocarbons sector as the nation’s economic mainstay.”
Jamal Aziz, CEO of Sohar Freezone, added, “Oman’s logistics sector is projected to grow beyond the US$12bn mark by 2017. This is not surprising, considering the sultanate is ideally positioned to play a leading role.”