RSS MD Milan Balac and the CEO of MI, Yasser Al-Barami.
A deal has been signed between Dubai-based Rental Solutions & Services (RSS) and Oman’s Mubadarah Investments (MI), which comprises of a group of rental companies based in Muscat.
A recent report from the Oman Ministry of National Economy showed that the Sultanate plans to reduce the contribution of the oil sector to its gross domestic product (GDP) to 9% by 2020 from 41.5% in 2007. This would confirm that Oman will see significant expansion and diversification of its various industries in a span of 10 years.
"Oman's economy and its future expansion plans are very promising. This opportunity has prompted RSS to form an agreement with MI. We believe there are significant synergies between RSS and MI which will ultimately benefit the Omani market," said Milan Balac, managing director of RSS.
"RSS will provide the latest technical expertise in rental power & temporary cooling while MI's in-depth local knowledge of the market will ensure swift market penetration and sustainable growth in the sultanate."
"Mubadarah Investments (MI) has a wide local network which will benefit this partnership in terms of operations, marketing and logistics," said Yasser Al-Barami, CEO of MI.
RSS is a relatively new name in rental, having been formed in 2007 as an entirely separate business from former parent company International Tubular Services. However, the firm has plans to penetrate the market right across the region, with its brand-new fleet and strong customer service being selling points.
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