Korean shipbuilder exploring Muscat potential

The government of Oman is going ahead with plans to develop a world-class commercial port and shipyard at Duqm in Al Wusta. Royal Haskoning of the Netherlands, in association with Lebanon?s Khatib & Alami, is designing the proposed port and shipyard project. The port will have facilities to handle ultra-large crude carriers.

Sources say that the initial feasibility study had estimated a cost of more than $260 million for the commercial port and dry dock, although it is expected to cost at least $500 million as the scope of developing the port now will include a new town, and probably an airport. One of Korea?s leading shipbuilding and marine engineering companies is understood to be exploring the potential of operating a ship repair yard and a shipbuilding unit at the port.

Oman, which has a GDP of more than $24 billion, is in the process of signing a free trade agreement with the United States, and economic reforms in Othe country is exhibiting signs of sustainable social development.