Notwithstanding a drop in oil and gas exports in the first half of the year, the sultanate is set to stay on a growth path. Projections from the International Monetary Fund indicate that the economy will advance 3.4 per cent this year and the next. The total value of all exports for H1 2014 declined by 9.6 per cent to RO10 billion ($25.
Aluminium profiles extruder Napco has announced it started this year work on seven projects including Muscat International Airport – MC (Main Contract) 3 in Extension Area 316.
Octal, the world’s largest PET sheet producer and integrated packaging company with its production complex in Salalah, plans to build a PTA (purified terephthalic acid) plant as part of its backward integration vision as well as a dairy and poultry tray facility in Saudi Arabia to boost product sales to the GCC from the Oman site, a senior of
OMANI construction firm Bahwan Engineering Company (BEC) will use rubber insulation products made by the UAE-based Rubber World Industries (RWI), it was announced recently. The move follows the signing of an agreement by the two companies.
Sohar Port and Freezone (Sohar) is offering LNG ship to ship (STS) services and plans to start bunkering facilities, the company said. Measures are now in place to begin issuing licences to STS service providers to handle LNG. The announcement was made at the Singapore International Bunkering Conference (Sibcon).
Oman plans to build its first major wind farm at a cost of $200 million to generate electricity in its southern governorate of Dhofar, as part of efforts to limit the use of oil and gas in power generation, reports Reuters.