Sohar Port and Hutchison Ports to conduct study for expansion
Sohar Port and Freezone and Hutchison Ports have agreed to jointly conduct a study for the expansion of Sohar Port.
In line with implementing the sultanate’s aspirations to increase revenue from the logistics sector, in accordance with the objectives of Oman’s Vision 2040, Sohar Port and Freezone has signed a development agreement with Hutchison Ports Sohar.
Hutchison Ports is the world’s leading port investor, developer and operator with a network of port operations in 52 ports spanning 26 countries throughout Asia, the Middle East, Africa, Europe, and Americas. Hutchison Ports Sohar is a member of Hutchison Ports.
The agreement will see a joint study conducted for the expansion of Sohar Port alongside the addition of a new container terminal capable of receiving mega-vessels, Sohar Port and Freezone said in a statement issued on Tuesday.
The study will commence this year and will assess the social, environmental, logistical, in-country value and economic impacts of any future expansion. Moreover, it will provide a clear roadmap for future expansion to meet the needs of the growing local and regional economy.
‘Apart from enhancing the competitiveness of Sohar Port, at the regional and global levels, especially in containers and cargo handling, the expansion will further contribute towards the generation of more local job opportunities,’ the statement said.
Sohar Port said it is currently witnessing a growing occupancy rate and efforts should be enhanced to increase its capacity, to keep pace with future development. The addition of new areas will increase the attractiveness of the port and comprise the necessary infrastructure to attract important international shipping lines.
‘The successful implementation of the expansion project is set to bring in sustainable economic and social benefits for the sultanate as a whole, and in particular the Governorate of North Batinah,’ Sohar Port said.