So­har eyes In­dia, rolls out ex­pan­sion plans

Man­agers from Oman's So­har Port and Free­zone hit the road in In­dia in Oc­to­ber as part of a three-day tour to pro­mote the Gulf gate­way to South Asian in­vestors. Oman hopes to play an in­creas­ingly im­por­tant role in the re­gional lo­gis­tics in­dus­try.

Cargo Talk - - International -

Mum­bai and Chennai were the fo­cus for the So­har road­show with this port and Free­zone hav­ing set its sights on In­dia's lo­gis­tics sec­tor even as it builds up its re­gional pres­ence. The Mid­dle East has em­barked on its most am­bi­tious rail net­work ever, with some $250 bil­lion ear­marked for the con­struc­tion of nearly 70,000km of rail­way line over the next five years and Oman's new rail­way net­work will help trans­form the Sul­tanate into a ma­jor cargo hub for the en­tire Gulf re­gion. This, in turn, creates in­vest­ment op­por­tu­ni­ties for In­dian com­pa­nies.

The road­show sup­ported Oman's Vi­sion 2020 pro­gramme which aims to di­ver­sify the coun­try's econ­omy be­yond the oil in­dus­try. The rapid de­vel­op­ment of the port and Free­zone in So­har is an ex­am­ple of how Oman is strength­en­ing its man­u­fac­tur­ing ca­pa­bil­i­ties and is fast shift­ing away from be­ing a coun­try that only ex­ports hy­dro­car­bons.

An­dre Toet, CEO of So­har port, said, "So­har is a crit­i­cal link in Oman's com­mer­cial lo­gis­tics in­dus­try and is com­mit­ted to build­ing a sus­tain­able lo­gis­ti­cal gate­way that will help Oman to achieve its Vi­sion 2020 ob­jec­tives. From the stand­point of Oman's eco­nomic di­ver­si­fi­ca­tion strat­egy, the lo­gis­tics in­dus­try has the po­ten­tial to sur­pass the hy­dro­car­bons sec­tor as the na­tion's eco­nomic main­stay." With its strate­gic po­si­tion near the Strait of Hor­muz, So­har Port and Free­zone is one of the world's fastest grow­ing hubs and has sus­tained dou­ble-digit growth for over a decade.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.