Category: ECONOMY

PEIE BankDhofar
PEIE teams up with BankDhofar to attract foreign investments

The Public Establishment for Industrial Estates (PEIE) and BankDhofar have signed a memorandum of understanding (MoU) with the aim of attracting foreign investments that will bring new industries, generate employment and industrialise the county further. The MoU focuses on a joint marketing of PEIE and Oman as an investment destination, visiting and attending meetings when […]

Oman Gas
Oman Gas to raise $1bn bridge loan

Oman Gas Co. is working with a group of banks to raise a bridge loan of slightly over $1 billion, which will later be refinanced via a US dollar bond issue, sources familiar with the matter said. The natural gas transport company, which was bought by state-owned Oman Oil Company in 2013, will use the […]

Inflation at 1.6 per cent in 2017

The annual average inflation in the Sultanate was 1.6 per cent last year. However, the economic activity in the Sultanate improved in 2017 after having contracted in the previous two consecutive years mainly due to the recovery in crude oil prices. The average price of Omani Crude during 2017 stood at $51.30 per barrel as […]

SEZAD signs two contracts worth RO48mn

The Special Economic Zone Authority in Duqm (SEZAD) has signed two agreements with contracting firms for building service corridors between Duqm Refinery, Duqm Port and the planned liquid berth. The first contract for building two service roads with a contract value of OMR38.8 million will connect Duqm port area with the refinery. The contract, which […]

PDO to sponsor vocational training of 1,500 Omani jobseekers

Petroleum Development Oman (PDO) has unveiled a significant new employment commitment by sponsoring the vocational training of 1,500 Omani jobseekers to work in the security industry. The on-the-job training will last for two months with suitable candidates learning vital security and safety skills. On successful completion of the programme, they will take up employment with […]

Hilal Al Hasani addressing the media representatives at the press conference (1)
PEIE announces new holding company to manage assets

  The Public Establishment for Industrial Estates (PEIE) announced the establishment of a holding company, Oman Investment and Development Holding Company. Wholly owned by PEIE, the new company will manage its assets and increase the involvement of private sector in the management and development of industrial estates. PEIE also announced a number of new plans […]

F&M signs contract with Qatar-based ASTAD

Oman’s leading Design Consultants, F&M Middle East Engineering Consultancy, recently signed a memorandum of understanding (MOU) with Qatar-based Project Management Consultants, ASTAD. The MoU not only not only paves the way for joint strategic objectives towards delivering projects but also extends mutual business opportunities in engineering consultancy, construction management, design and project management. Held at […]

Elixir United signs pact with Polyeco Gulf

Elixir United Investment, a part of the well-diversified Omani business house Al Jazeera International Group, signed an agreement with Polyeco Gulf for the provision of hazardous waste management and marine pollution control services in the Sultanate. Polyeco Gulf is a local subsidiary of Polyeco Group, an international company founded in Greece that specialises in hazardous […]

Oman, India sign MoUs to boost strategic relations

The Sultanate signed a number of memoranda of understanding (MoUs) on Sunday with India to consolidate the strategic relations between the two countries, within the framework of the visit of Narendra Modi, Indian Prime Minister, to the Sultanate. The MoUs have been signed to enhance the Omani-Indian historic relations, which are growing. The first agreement […]

Port in Sur
Industrial estates post strong growth in 2017

Oman’s industrialisation drive continues to witness massive expansion in the total number of leased areas, infrastructure projects, investments, number of projects and job opportunities in the industrial estates across the Sultanate, according to the Public Establishment for Industrial Estates (PEIE)’s latest report. The report highlights major achievements witnessed by the industrial estates that pertain to PEIE during […]