MUSCAT, AUG 9
The Ministry of Transport, Communications and Information technology has signed a framework agreement with QSS Maritime, representing a consortium of investors, for the development, management and operation of the Port of Shinas on the Sultanate of Oman’s North Al Batinah coast.
The agreement was co-signed by Said bin Hamoud al Ma'awali, Minister of Transport, Communications, and Information Technology, and Abdulbaqi Ahmed al Kindi, CEO of QSS Maritime.
The agreement will be operationalized in three phases: The first involves the creation of a handover and takeover committee of the port's operations; this will be followed by the operation of the port in November this year. Also during this phase, the company will prepare a commercial and marketing plan and the new master plan for the port within a period of eight months.
In the final phase, the two sides will enter into negotiations leading to the signing a long-term agreement to develop, manage and operate the port for a period of thirty years.
The Ministry described the agreement as fully aligned with its strategy “to attract foreign investments, foster international partnerships, and collaborate with local entities specialized in the management and operation of ports and terminals.”
QSS Maritime is a consortium of local and international companies comprising Quartet Solutions Company, Dunes Petroleum Company and SS Maritime Company. Indian-based SS Maritime is the foreign partner in the grouping. Established in 1990, the Indian partner currently operates and manages around seven terminals in various Indian ports.
Earlier in July, the Omani Ministry opened local and global bids for the construction of a multipurpose port in Masirah as part of a development strategy to boost investments in the country.
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