Business | General
Oman signs deal with India's SKIL
Oman and its Dutch partner on Friday signed a deal with Indian firm SKIL Infrastructure to develop a special economic zone (SEZ) connected to the Port of Sohar.
- Staff Report
- Published: 23:39 May 16, 2008
Muscat: Oman and its Dutch partner on Friday signed a deal with Indian firm SKIL Infrastructure to develop a special economic zone (SEZ) connected to the Port of Sohar.
Oman's Minister of Commerce and Industry Maqbool Bin Ali Bin Sultan, representing the Oman government as a shareholder of the Sohar Industrial Port Company, Port of Rotterdam chief Hans Smits and SKIL vice-chairman Bhavesh Gandhi signed the contract.
The Sohar SEZ is expected to be launched in fourth quarter of this year, SIPC said in a statement.
The country views SEZs as a tool for economic growth that will create opportunities for attracting foreign investments.
The Sohar SEZ's proximity to the port gives it logistics advantage. It will create employment for the people living in Batinah region.
More from Business General
More from Business
Business Editor's choice
-
‘Wrong Way' Krugman
The source of our economic malfunction lies with government-mandated bank regulations
-
Greek exit could make Eurozone stronger
Departure will show limits of bailouts and allow remaining members to act much more like a unit
-
UAE upholds values of free trade
Recently released statistics confirm an established fact, namely that of the UAE embracing the free trade principle in general and imports in particular
