Sohar Port and Freezone attracts RO10bn investment in 15 years
Sohar Port and Freezone has attracted total investments worth more than RO10bn since it began operations 15 years ago, a senior official said on Monday.
Speaking at an event at Kempinski Hotel Muscat to celebrate Sohar Port’s 15 years of successful operations, Dr Mohammed Nasser al Zaabi, chairman of the board of Sohar Port and Freezone, said, “Sohar Port and Freezone has created remarkable footprint and made its presence recognised, both in the region and globally. We are also proud to be ranked as one of the fastest-growing ports and free zones in the world, with investments exceeding RO10bn.”
He said, “With our strategic geographical location, providing us access to global markets with an outreach of over 2bn people, Sohar Port is playing a vital role in line with Oman’s National Logistics Strategy 2040. The strategy aims to place the transport sector as the second-highest source of national income alongside putting the sultanate among the top ten countries for logistics performance by the year 2040.”
Sohar Port currently handles over 61mn tonnes of cargo per year along with over 3,400 vessels. Around 62 per cent of Oman’s total imports entered through Sohar Port in 2017, along with 42 per cent of the country’s export volumes. In the same year, Sohar Port and Freezone also contributed to 4.8 per cent of Oman’s total gross domestic produce (GDP).
Zaabi said, “Sohar Port and
Freezone is also a trailblazer for job creation. It has created 10,836 direct job opportunities, with the combined value for both direct and indirect employment amounting to 1.1 per cent of the total number of workers in Oman, which has generated a combined added value of RO1.3bn in 2018.”