Work on Duqm bus unit to start on Thursday

Foundation stone laying ceremony to build the Sultanate’s first bus assembly unit, which will have an initial capacity to assemble 1,000 buses per year, will be held on Thursday.

The new project is a strategic partnership between Qatar Transport, the national transport company in Qatar that owns 70 per cent stake of the company, and Oman Investment Fund, according to a press release.

Oman Investment Fund, a sovereign wealth fund in the Sultanate, owns 30 per cent of the stake. The two parties will invest about $90 million in the first phase of the project, which has the potential to become an active hub for the bus industry in Duqm.

The initial capacity of the plant is to produce 1,000 buses per year and up to 3,000 buses at the peak capacity of the plant, following the gradual expansion of the project based on market demand.

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