Global Arab Network | Billion dollar port expansion plan to boost shipping and cargo in Oman

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Billion dollar port expansion plan to boost shipping and cargo in Oman

Global Arab Network - - Amina Murtada

Thursday, 10 March 2011 11:57

Oman (Muscat) - Recognising the vital role of the region’s ports in providing trade links between the Far East, Asia, Europe and the US, international shipping and cargo experts are set to gather in Abu Dhabi on March 28-30 for the World Ports and Trade Summit 2011.

Multi-billion dollar investment in port operations across the Middle East, including the strategically positioned Sultanate of Oman, highlights their continuing role as the most important transport sector for regional trade, Global Arab Network reports according to Oman News Sources.

“The billion dollar expansion plan for Oman’s seaports, particularly in Salalah and Sohar, is continuing unabated as part of its strategy to further develop a competitive and efficient industrial sector and also ensure the security of its essential food commodities,” said Chris Hayman, Chairman of Seatrade.

Up to a billion dollars has been committed to the development of Oman’s new maritime ports and the expansion of existing gateways. Construction work on the Port of Salalah is expected to begin by the end of March, with the first phase of the project estimated to cost around $196 million, part of the overall $645 million expansion plan. This will increase its capacity to 40 million tonnes of dry-bulk commodities and five million tonnes of liquid products each year.

Expansion work on the Port of Sohar is also progressing, with two key projects including the development of a major deepwater jetty and a dry bulk terminal.

Construction of the new $250 million jetty is already well under way, with completion set for the second half of 2011. Once finished, Sohar will be one of just a handful of ports worldwide with

such deepwater capability, allowing for the docking of new generation super-scale ore carriers.

The second project, the new dry-bulk and aggregates terminal, is scheduled for completion in the first quarter of 2012. It is expected to encourage the growth of quarrying and mining activities in the Batinah region, further opening it up as a platform for foreign commodities traders to access the markets of the Gulf and wider Middle East.

An upgrade project is also under way for Duqm Port, with new smaller-scale ports planned for Shinas in the north and Halaniyat Islands in the south.

According to Hayman, the steady post-recession revival of regional and international trade between the East and West is resulting in increasing volumes of cargo routed in and out of the region.

“Having remained strong throughout the global economic downturn, countries across the Gulf have continued to expand their port operations over the last two years,
with growth continuing into 2011 and beyond,” said Hayman.

In association with Abu Dhabi Terminals, Arab Sea Ports Federation and joint event organisers Turret Media and Seatrade, the inaugural summit this year will become an annual event. Internationally recognised economists, ports authorities, terminal operators, shipping companies, global cargo owners and investors will be brought together to present some of the most ambitious projects ever attempted.

The World Ports and Trade Summit is split into six different sessions covering topics including the world economy, trade and ports, future challenges and opportunities for the Middle East and leading drivers of freight markets. (omanobserver)

Global Arab Network

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