OMAN PLANNING MAJOR PROJECTS

Oman planning major projects worth $112bn

 

Major projects worth a total of $112bn are being executed or are being planned in Oman, according to new figures.

Statistics compiled by MEED Projects show 40 major projects are in the pipeline in the sultanate.

Of these, almost 25 percent are for major projects in the construction sector, which is dominated by plans to build a new town in Duqm.

A similar amount of capital investment is planned in the transport sector including the $15bn national rail programme.

Oil and gas projects combined account for almost $40bn of major projects being executed or planned in Oman.

The figures have been revealed ahead of the MEED Oman Projects Forum 2013 which opens at the Grand Hyatt Muscat on October 28.

The data said Oman is already pushing ahead with many major projects. Around $40bn worth of them are under execution, though some of the larger ones are at an early stage of development.

But the largest portion of the Omani major project programme is yet to come to the market with more than $50bn of major projects are under design or study.

The pace of execution of the major programme is expected to be swift, the MEED Oman Projects Forum 2013 will be told.

Some $56bn of major projects under execution or planned are due for completion by the end of 2017. All $112bn of projects are due for completion by the end of 2022.

The forum will hear a progress update about the Duqm port and special economic zone, which is Oman’s largest single megaproject with budgeted investment of $20bn

Duqm is to be the location of a 250m barrel oil storage facility and a range of new industries.

Other major projects include the Oman national railway ($15.6bn), Duqm refinery & petrochemical complex ($15bn), Khazzan & Makarem fields ($15bn) and Muscat and Salalah international airport expansion ($5.2bn).

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