Oman' Ministry of Transport, Communications and Information Technology, has reached a framework agreement with QSS Maritime, a consortium of local and international companies, to develop, manage and operate the Shinas Port in the sultanate.
The QSS Maritime, which comprises Omani Groups Quartet Solutions and Dunes Petroleum and Indian group SS Maritime Company as partners, currently runs more than 7 terminals across the globe.
The agreement stems from the ministry’s efforts to attract more foreign investments, as well as international and local companies specialized in the management and operation of ports, said Engineer Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology, after signing the deal with Abdulbaqi Ahmed Al Kindi, CEO of QSS Maritime.
As per the agreement, QSS Maritime will implement the project in three phases, stated Al Ma’awali.
Phase One will see the setting up of a committee to receive and hand over the port, while Phase Two will see the beginning of development work at Shinas port as well as management and operation, with effect from November 1, 2023.
This phase also includes the preparation of a commercial and marketing plan and a new masterplan covering a period of 8 months, he noted.
The minister said the final negotiations will begin during the third stage, a period of 12 months during which steps will be taken to prepare for signing of a long-term agreement to develop, manage and operate the port for a period of 30 years.
