Qatar transport signs record 'bus'-ting Oman dealby CW Staff on Jul 23, 2012
Oman Investment Fund (OIF), the sovereign wealth fund of the sultanate, has signed a memorandum of understanding (MoU) with Qatar’s national transport company Mowasalat to set up a bus manufacturing and assembly unit in Oman.
The scope of the MoU covers setting up a facility in Oman for the manufacture and assembly of buses and other vehicles over a site area of almost 100 hectares, reported the Qatar Tribune.
“Pursuing Mowasalat’s vision of being a regional leader, the company aims to expand its operations through new investment opportunities and partnerships that would help achieve the organisation’s mid-term and long-term objectives,” said a Mowasalat statement.
“This project will immensely benefit and meet with the emerging demand growth in the GCC and MENA region besides providing vast job opportunities in the region.
The proposed venture in Oman will be one of the largest of its kind in the whole of the Middle East.
- HSE: Communication is king
- Saudi's 2014 contract awards tumble 25% to $59bn
- Al Rayyan Road project secures $345m finance
- Dubai's DWC mega airport's $32.7m plans for SMEs
- Qatar accommodation squeeze impacts officials too
- Doha mall roof collapse sparks security concerns
- New acting head of personal banking for al khaliji
- Qatar's non-hydrocarbon sector fuels 2015 economy
- Construction Week Qatar Salary Survey 2014
- Stadium air quality monitoring contract signed