Muscat – The Ministry of Transport, Communications and Information Technology (MTCIT) has partnered with Oman International Container Terminal Company (Hutchison Ports Sohar) to develop, manage and operate Khasab Port in Musandam Governorate in from October 1.
The agreement was signed by HE Saeed bin Hamoud al Ma’awali, Minister of Transport, Communications and Information Technology, and Andy Tsui, Managing Director, Middle East and Africa, Hutchison Ports.
According to HE Ma’awali, the port has a competitive advantage due to its proximity to the Strait of Hormuz. “The port will be one of the most important economic engines in Musandam Governorate as it will stimulate economic movement and facilitate services for ships transiting through the Strait of Hormuz.”
He pointed out that the next two years will see the formulation of a vision for the development and expansion of the port.
According to the agreement, during the first two years, the company will carry out a detailed feasibility study on all the conditions agreed with the ministry based on the results of a commercial study.
The business study cites the requirements for the port’s infrastructure and expansion plan, as well as development, operation and management mechanisms.
The study sets out the broad outlines of the final negotiations – scheduled for the third year – in preparation for a long-term agreement for the development, management and operation of the port over a period of 30 years.
HE Sayyid Ibrahim Said al Busaidi, Governor of Musandam, said, “The framework agreement paves the way for rapid commercial activity in the port – known as the beating heart of Khasab.”
