The Ministry of Transport, Communications and Information Technology signed a framework agreement with International Container Terminal Company “Hutchison Ports Sohar” to develop, manage and operate Khasab Port.
The agreement states that the company will receive Khasab Port, manage and operate it as of 1 October 2022. It is a condition, that during the first and second years, the company will prepare a detailed feasibility study on all terms agreed with the ministry, based on the results of a commercial study. The study cites requirements for the port’s infrastructure and expansion plan, as well as development, operation and management mechanisms.
The sets preliminary outlines for broad lines of the final negotiations—scheduled to start during the third year—in preparation for the signing of a long-term agreement for the development, management and operation of the port over a period of 30 years.
The agreement was signed by Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology, and Andy Tsoi, representative of Hutchison Ports in the MENA region.
Al Ma’awali pointed out that the next two years will see the formulation of a vision for the development and expansion of the port. He added that the company may include local partners in the port management process.
Meanwhile, Sayyid Ibrahim Said Al Busaidi, Governor of Musandam, said that the framework agreement sets the pace for a stage of commercial activity in the Port of Khasab, “the beating heart of the city of Khasab”.
