Skip to content Skip to Search
Skip navigation

Oman signs pact with Hutchison to develop and manage Khasab port

By Pramod Kumar
terminal, boats, sea, cranes Unsplash/Olga Subach
Rakiza has spent some of the fund on 31 percent of a Port Sohar container terminal in Oman

Oman’s Ministry of Transport, Communications and Information Technology signed a framework agreement with global container terminal company Hutchison Ports Sohar to develop, manage and operate Khasab port, Times of Oman reported.

The company started managing and operating the port on October 1.

The agreement entails studies for developing the port’s infrastructure and expansion.

The preliminary reports of the first three years of operations will decide whether a long-term agreement of over 30 years will be signed.

Local partners are likely to join in the port management process, the newspaper said, citing Minister of Transport, Communications and Information Technology Said Hamoud Al Maawali.

Latest articles

Claridge's Hotel. Maybourne also owns the Berkeley, the Connaught and the Emory in London

Qatar-backed owner of Claridge’s to open hotel in Dubai

Maybourne Hotels, the owner of Claridge’s in London, is planning to expand to Dubai, Paris, New York and Miami, its co-chief executive has said.  The company, owned by Qatari royals Sheikh Hamad bin Jassim bin Jaber Al Thani and Sheikh Hamad bin Khalifa Al Thani, owns and operates six hotels – four in London and […]

UAE deputy prime minister and finance minister Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. The ministry said the tax system is "aligned with global standards"

UAE to introduce 15% tax on large multinationals

The UAE is to increase corporate tax on large multinational enterprises (MNEs) to 15 percent from January 1 2025, the Ministry of Finance has announced. MNEs currently pay 9 percent of their profits in the Emirates. The domestic minimum top-up tax (DMTT) will apply to multinational enterprises with consolidated global revenues of €750 million ($793 […]

The US has overcome misgivings about the UAE's relationship with China to approve computer chip exports

US clears export of advanced AI chips to UAE

The US has approved the export of advanced computer chips used for artificial intelligence to the UAE, reports indicate. Under the agreement the UAE will allow exports to a Microsoft-operated facility for use by Emirati state-backed AI company G42. Microsoft has invested more than $1.5 billion in G42 and holds a minority stake and board […]

John Bass, US undersecretary of state, will visit Jordan this week

US senior official in Jordan to discuss bilateral issues

US undersecretary of state John Bass will arrive in Jordan on Monday to discuss a range of bilateral issues and this week’s $845 million cash transfer to support the Arab state. During meetings with senior Jordanian government officials Bass will also discuss efforts to de-escalate regional conflicts, the US Department of State said in a […]