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Oman offers major business opportunities to Indian firms

MUSCAT, March 16, 2017

Oman will offer major investment opportunities to Indian companies in a wide range of sectors, a recent business-to-business (B2B) forum held in Muscat heard.

The meeting was organised under the auspices of Dr Ali bin Masoud bin Ali Al Sunaidy, Oman's Minister of Commerce and Industry, a Times of Oman report said.

There will be ample opportunities available in planned projects, such as those in the railway, power generation, desalination, renewable energy, port, tourism projects and logistics sectors, Shahswar G Al Balushi, chief executive officer of the Oman Society of Contractors, said while addressing the B2B meeting organised by the Indian embassy for Indian companies participating in The Big Show (Builders International Gathering), an exhibition that caters to the building and construction industry in Oman, the Middle East and global markets.

Al Balushi said Oman will be investing $4.2 billion in various logistics projects—in the Khazaen logistics area, GCC land connectivity and Salalah Port expansion—for another three years until 2020.

Moreover, the envisaged investment in integrated tourism projects, leisure facilities and hotels is estimated at $1.8 billion till 2020.

Also, the investment proposed for building petrochemical, metal, non-metal and food processing industries is estimated to be $10.5 billion by 2020.

Also Tanfeedh, a national programme for enhancing economic diversification, recently proposed several projects worth of billions of dollars, encouraging Indian businesses to take advantage of these opportunities, added the report.

The Oman government expects major participation from the private sector, including foreign investors in all these ventures. All these projects offer immense opportunities for Indian firms, as suppliers and vendors, noted Al Balushi.




Tags: | Oman | India | business | opportunities | firms | major |

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