Construction

Oman Arab Bank supports symposium on railway project

Oman Arab Bank, known for financing key projects in the Sultanate in construction, infrastructure, oil, gas, petrochemical and tourism sectors has recently sponsored a symposium on ‘Investment Opportunities in Railway Project’.

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RELATED ARTICLES: Tenders floated for Oman’s regional airports | Five conglomerates chasing Oman Rail PMC | Oman to award $65bn in projects over next four years | Oman Arab Bank, known for financing key projects in the Sultanate in construction, infrastructure, oil, gas, petrochemical and tourism sectors has recently sponsored a symposium on ‘Investment Opportunities in Railway Project’. An Oman Daily Observer report said that the Railway Project is considered to be one of the most important infrastructure projects in the country, and is considered as a tool for the sustainable development of the Omani gross domestic product (GDP). Held on 15th and 16th September 2013 with the support of His Highness Sayyid Asaad Bin Tareq Al Said, Representative of His Majesty the Sultan, the inauguration ceremony was attended by some members of the Royal Family, ministers, advisors, honoured persons, under secretaries and some representatives of the governmental and private sectors, as this event was organised by the Ministry of Transport & Communications with the aim of transforming the project idea into an ongoing project. To maintain the flow of investment funds in the railway sector in the country and to localise the direct and indirect industries that are relevant to the sector were the major objectives of the symposium. Some of these industries include the design, construction, operation, maintenance and services fields, and are hoped to be of competitive technical standards to ensure smooth exportation of their products to the external markets. It is hoped this will create jobs for Omanis and make for flow of money and jobs to support the Omani GDP.

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