Muscat: Khazaen Economic City (KEC) on Sunday signed an investment agreement with a number of logistics companies to operate and manage the dry port in South Al Batinah Governorate.
The terms of the agreement include the right for Marafi, Khimji Ramdas and Al Madina Logistics Services to lease a total of 250,000 sqm of land of which 100,000 sqm to be developed and managed at first stage with an initial investment cost of $ 10 million.
Khalid Al Balushi, CEO of Khazaen Economic City (KEC): “The dry port project is an example of a real partnership with the private sector, represented by Khimji Ramdas and Al Madina Logistics Services (SAOC), to improve the logistics sector in Oman.”
While signing the agreement with Khalid Awadh Al Balushi, CEO of KEC, Dr. Ahmed al Abri, CEO of Marafi, said, “Khazaen dry port will be operated and managed by Marafi, Khimji Ramdas and Al Madina Logistics Services.”
Khazaen is an integrated economic city being developed over 51.6 million sqm of land in Barka, Sultanate of Oman. Khazaen is strategically located between Suhar Port, Muscat Airport and Muscat City
Khazaen will include an inland dry port, logistics facilities, various types of warehouses, truck depots, free zones with tax beneﬁts, commercial and industrial zones, residential and mixed-use areas, recreational and retails areas with world-class infrastructure and outstanding facilities that are unprecedented in Oman.
KEC has been developed to support the government’s objectives of diversifying the economy, maximizing Oman’s private sector contribution to GDP, attracting significant foreign investments, creating skilled employment.