BUSINESS REPORTER
MUSCAT, APRIL 25
Asyad Group, part of Oman Investment Authority, says it earned a cumulative net profit of RO 159 million during 2016 – 2021 on the back of improvements in its financial performance. Revenues climbed 55 per cent during this period, it announced in a presentation during Sunday’s briefing by OIA subsidiaries. Helping augment its performance was the incorporation of Oman Dry-dock.
Additional profitable businesses set up by the Group include Asyad Express, Asyad Container Transport, Asyad Ports, Khazaen Economic City and the Khazaen Dry Port – the country’s first inland port.
Over the next five years (2022 – 2026), the Group is eyeing growth of 26 per cent, while also diversifying its asset portfolio through expansions in other logistic sectors such as freight and discharging, cold chains and express delivery services.
Among its important achievements are the expansion of the shipping network for regional container transport, integration of logistics and cold chain projects, implementation of the floating dry dock project, small-scale shipbuilding (tug and support boats), signing of public service agreements, privatisation of transportation and the development / operation / management of regional ports.
Additionally, Asyad Group has been assigned the role to oversee the competitive tender for the award of a concession for the management and operation of the container berth at Duqm Port to a global operator. It is also adding to the competitive advantages of the Salalah region through its port and airport integration initiative.
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