Oman awards $130m port contract
By: Claire Valdini
Oman has awarded Hong Kong-based Hutchison Whampoa an OMR50m (US$130m) contract to build and operate a port terminal in Sohar, the Port of Sohar said in a statement.
The new terminal, scheduled for completion at the end of this year, will double the port’s capacity to 1.5m (20ft equivalent units) from 800,000 TEU. Hutchinson Whampoa will also manage the terminal after completion.
"This puts Sohar in a very competitive position for shipping lines to bring their cargoes with direct lines to the Sultanate and to consider Oman as a gateway hub for their transshipment cargo in the region,” Andre Toet, CEO of Sohar Industrial Port Company said in a statement.
Sohar, an industrial city north of Muscat, is home to several major industries including an aluminum smelter and a free zone.
Hutchison Whampoa is a Hong Kong Stock Exchange-listed conglomerate with interests in transportation, telecommunications, infrastructure and property.