Category: News

scaffolding factory
PDO-backed scaffolding factory opens in Sohar

A new factory backed by Petroleum Development Oman (PDO) and specialising in providing scaffolding products and services to Omani industry has been officially opened in Sohar under the auspices of Dr Mohamed Al Rumhy, the Minister of Oil and Gas. Triangle Engineering will supply the Sultanate’s oil and gas and construction sectors and act as […]

Oman raising $3.6bn from Chinese banks

Oman is seeking a $3.6 billion five-year bullet term loan from Chinese banks, banking sources said. Oman’s finance ministry is self-arranging the senior unsecured deal, which pays an interest margin of 190bp over Libor. Bank of China, China Development Bank, and Industrial and Commercial Bank of China are the mandated lead arrangers with the latter […]

Al Madina Real Estate signs deal for developing projects in PPP model

Al Madina Real Estate has signed a Memorandum of Understanding (MoU) with the ICM Maltauro Group, an Italian conglomerate with interests in developing large commercial complexes, airports, railways, and roads, and F&M Ingegneria. F&M Ingegneria is one of the leading Italian multidisciplinary companies providing design, engineering, and project management services in infrastructure, building, and environment […]

Omani cement firms form new joint venture

Two of Oman’s cement producers—Raysut Cement Company and Oman Cement Company—have formed a new cement firm. The new joint venture company, Alwasta Cement Company, proposes to set up a new cement project in the near future, subject to a detailed feasibility study, Raysut Cement said in its first quarter report posted on the Muscat Securities […]

PDO signs contracts worth RO300mn with two local firms

  Petroleum Development Oman (PDO) has awarded two key contracts, valued at around RO300mn, to Omani businesses for work in the north of its operations in the Sultanate. Under the terms of the deals, off- plot mechanical work will be carried out by local community contractor (LCC) Seeh Al Sarya Engineering at PDO oil fields […]

MEDC shares to be offered to institutional investors; IPO to follow

    Nama Holding will invite Omani institutional investors to sell shares in Muscat Electricity Distribution Company (MEDC) within the next few days, according to a press release. This will be followed by an initial public offering for retail investors, which will be the second phase of the share offer. MEDC is a subsidiary of […]

ASAAS to invest RO7.6mn to build Oman Air crew reporting facility

  Muscat National Development & Investment Company (ASAAS) has signed an agreement with Oman Air for the development and construction of a crew reporting building at Muscat International Airport. The new OMR7.6 million facility is scheduled to be completed by Q1 2018 along with the main airport terminal. Serving the burgeoning requirements of cabin crews […]

Orpic breaks ground for natural gas extraction plant in Fahud

Oman Oil Refineries and Petroleum Industries Company – Orpic celebrated the ground breaking of its engineering, procurement and construction (EPC) of Liwa Plastics Industries Complex (LPIC) Project- Package 3 in Fahud. Orpic lays the foundation of the $688mn EPC 3 which is the natural gas liquids (NGL) extraction plant, following the foundation of $2.8bn EPC […]

Golden Group
Golden Group, Rotana sign agreemnt for a new hotel project at Al Mouj

Rotana, one of the leading hotel management companies in the region with hotels across the Middle East, Africa and Turkey, signed a management agreement with Golden Group Holding (GGH), a diversified Oman-based business group with interests in real estate, hospitality, construction, logistics and oil and gas, for a new hotel project in Muscat, Oman. The […]

Oman Oil, Shell to collaborate on Oman Block 42

Oman Oil Company Exploration and Production (OOCEP) and Shell Exploration have signed a Heads of Agreement (HoA) to collaborate on Oman Block 42. Under the agreement, an initial aerial study will be carried out, before potentially undertaking further and more focused activities in the block, according to a press release. This cooperation in Block 42 […]

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