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Asyad signs 40-year Suwaiq port concession

26 November 2024

Oman's Transport, Communications and Information Technology Ministry (MTCIT) has signed a concession agreement with the local logistics provider Asyad Group to manage and operate the Suwaiq Port for 40 years.

According to local media reports, the agreement involves the construction of a sea berth, which is 500 metres long and 14 metres deep, designed to accommodate various sizes of ships and handle all types of cargo, including bulk, liquid, dry and general cargo and vehicles.

The agreement entails the endorsement of modern handling systems to "improve operational efficiency and expand storage capacities to keep pace with growing demand".

Asyad will also expand the Suwaiq Port area to more than 360,000 square metres to meet the needs of the growing local economy, notably in the food security sector.

Port Suwaiq is located close to Asyad’s Khazaen Dry Port between the capital, Muscat, and Sohar.

According to data on Asyad's website, it assumed the port’s management in September 2019.

Shortly after, Asyad embarked on an ambitious development plan that "transformed the port into a major enabler of local trade and a key provider of import and export services to Oman’s businesses and manufacturers".

The new agreement aims to help maintain the port’s role as a multi-purpose commercial hub that meets international standards, to help create opportunities to add new international shipping lines.

https://image.digitalinsightresearch.in/uploads/NewsArticle/13005616/main.jpg
Jennifer Aguinaldo

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