Latest news with #AlBuraimi
Times of Oman
a day ago
- Business
- Times of Oman
Agreement signed to develop integrated bus public transport hub in Al Buraimi
Muscat - Al Buraimi Governorate and Mwasalat Company today signed a cooperation agreement to develop an integrated bus public transport hub in the Al Uqda Al Shamaliyah area of Al Buraimi Governorate. The project includes the development of a modern, integrated transport station spanning 56,000 square meters. The station will feature an eco-friendly design, offering intercity and intracity passenger transport services, along with advanced facilities such as a smart taxi station, a micro-mobility station, air-conditioned waiting halls, dedicated bus bays, transport operator offices, retail outlets, logistics facilities, and parking spaces for both cars and buses. The agreement was signed under the auspices of Eng. Khamis Mohammed Al Shamakhi, Undersecretary of the Ministry of Transport, Communications, and Information Technology for Transport. Dr. Hamad Ahmed Al Busaidi, Governor of Al Buraimi, signed the agreement on behalf of the governorate, while Eng. Badr Mohammed Al Nadabi, CEO of Mwasalat, signed on behalf of the company. The agreement aims to enhance public transport infrastructure in the governorate and improve road transport services in line with Oman Vision 2040. It stipulates that Mwasalat will serve as the technical arm of the project, responsible for developing design standards, overseeing implementation, and operating and managing public transport facilities upon completion. Meanwhile, the governorate will allocate the necessary budget for infrastructure and facilitate administrative and regulatory procedures, including land-use adjustments and designating the station as the exclusive hub for mass transit services in the governorate. The Governor of Al Buraimi stated that the establishment of an integrated bus transport hub in the governorate will serve a large segment of public transport users and boost economic indicators. He noted that there are approximately 12 daily bus trips on the Muscat-Al Buraimi route, in addition to the route between Muscat and Abu Dhabi in the UAE, which passes through Al Buraimi Governorate. For his part, Eng. Badr Mohammed Al Nadabi, CEO of Mwasalat, explained that the agreement includes investment aspects, with a tender to be issued for investment in the station's development. Implementation is expected to begin within the next three months, with completion targeted within three years.
Zawya
4 days ago
- Business
- Zawya
Oman: Total investment in Al Buraimi Industrial City hits $711mln
Muscat: Al Buraimi Industrial City, affiliated with the Public Establishment for Industrial Estates (Madayn), successfully signed 16 investment contracts in 2024, with a total investment value of OMR7,970,000. These contracts involve establishing projects on areas exceeding 165,000 square metres across various sectors, including automotive oil manufacturing, paper and cardboard, food, water, and cosmetics. Said bin Abdullah Al Balushi, Director General of Al Buraimi Industrial City, stated that the industrial city has recorded an outstanding performance during 2024 as the cumulative investment volume has now exceeded OMR274 million. 'This is attributed to the constant efforts by Madayn to create a competitive and attractive business environment for investors, while emphasising on job creation, supporting small and medium enterprises, and promoting economic diversification and sustainable industrial growth in line with Oman Vision 2040." Al Balushi pointed out that the dualisation of Al Buraimi–Mahdah Road, currently being implemented by the relevant authorities in coordination with Madayn, represents a key project of strategic significance, serving as a main artery linking the Wilayat of Mahdah with Al Buraimi Governorate. The road will connect to both Phase 1 and Phase 2 of Al Buraimi Industrial City, providing major solutions for organising entrances and exits to each phase, ensuring smooth access between them, and ultimately serving investors by saving time and effort. He added that Al Buraimi Industrial City signed a cooperation agreement last week with Al Buraimi University College to enhance collaboration through knowledge exchange, events and activities, training of students and national cadres, and support for research and innovation projects. It is worth noting that Al Buraimi Industrial City spans 14,414,294 square metres, of which 4,247,099 square metres area is already developed. Strategically divided into two geographically distinct phases, the industrial city enjoys a prime location along the Sultanate of Oman's border with the United Arab Emirates. This unique positioning offers investors and companies seamless access to the GCC markets—particularly the UAE—enhancing the city's competitive advantage through efficient cross-border trade, streamlined logistics, and proximity to major highways that connect directly to key Omani ports such as Sohar Port. Al Buraimi Industrial City is home to a diverse range of sectors, including food industries, manufacturing, logistics and warehouse services, as well as chemical and plastics industries—making it a dynamic hub for industrial growth and regional connectivity. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Omani stock market demonstrates resilience amidst regional uncertainty
Muscat: The Omani stock market recorded its fifth consecutive day of positive performance this week, continuing its upward trajectory and further recovering recent losses. This sustained rally indicates strong underlying demand within the market, according to an industry watcher. 'This performance contrasts with broader regional trends, where markets largely continued to grapple with uncertainty, consistent with the previous week. Profit-taking was evident in some regional markets as external factors weighed on general sentiment,' said Joseph Dahrieh Managing Principal at Tickmill. 'However, the Omani stock market appeared more focused on positive internal developments, which have been bolstering investor confidence,' he further added. While potential risks associated with lower oil prices and global economic uncertainty remain, these factors have seemingly had a less pronounced impact on the Omani market lately, said Joseph Dahrieh. Given recent positive developments and current momentum, the market appears well-positioned to potentially continue its upward trend in the near term. 'Reinforcing this positive sentiment are key national economic initiatives unveiled this week. The landmark UAE-Oman agreement to develop the Al Rawdah Special Economic Zone in Al Buraimi signals a substantial long-term boost,' said Joseph Dahrieh. 'This joint venture is anticipated to attract considerable investment, stimulate cross-border trade and diverse economic sectors, thereby offering a sustained positive outlook for both the wider economy and the stock market,' he added further. The Industrial sector led the gains, continuing its strong performance for a second consecutive week with a 5.89% increase. Within this sector, Al Anwar Ceramic was higher by 4.21% and Al Maha Ceramics by 13.75%, both maintaining their upward momentum. Oman Cables Industry surged by 16.50%. OQ Base Industries contributed to the positive trend with a gain of 1.75% and was the most traded stock in terms of both value and volume. The Services sector also achieved a solid advance, rising by 2.29%. Key contributors included OQ Gas Networks, which gained 2.78%, and OQ Exploration and Production, which rose by 3.11%. In telecommunications, Oman Telecom edged higher by 0.60%, while Ooredoo recorded a strong performance, climbing 12.30%. National Gas also saw a significant increase of 8.22%. The Financial sector posted a more modest gain of 0.42%. Sohar International Bank rose by 0.71%, and Al Anwar Investment climbed by 2.41%. Muscat Finance also performed well, increasing by 3.92%, while Al Sharqiyah Investment Holding registered a gain of 1.25%. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
5 days ago
- Automotive
- Times of Oman
Total investment in Al Buraimi Industrial City hits OMR274mn
Muscat: Al Buraimi Industrial City, affiliated with the Public Establishment for Industrial Estates (Madayn), successfully signed 16 investment contracts in 2024, with a total investment value of OMR7,970,000. These contracts involve establishing projects on areas exceeding 165,000 square metres across various sectors, including automotive oil manufacturing, paper and cardboard, food, water, and cosmetics. Said bin Abdullah Al Balushi, Director General of Al Buraimi Industrial City, stated that the industrial city has recorded an outstanding performance during 2024 as the cumulative investment volume has now exceeded OMR274 million. 'This is attributed to the constant efforts by Madayn to create a competitive and attractive business environment for investors, while emphasising on job creation, supporting small and medium enterprises, and promoting economic diversification and sustainable industrial growth in line with Oman Vision 2040." Al Balushi pointed out that the dualisation of Al Buraimi–Mahdah Road, currently being implemented by the relevant authorities in coordination with Madayn, represents a key project of strategic significance, serving as a main artery linking the Wilayat of Mahdah with Al Buraimi Governorate. The road will connect to both Phase 1 and Phase 2 of Al Buraimi Industrial City, providing major solutions for organising entrances and exits to each phase, ensuring smooth access between them, and ultimately serving investors by saving time and effort. He added that Al Buraimi Industrial City signed a cooperation agreement last week with Al Buraimi University College to enhance collaboration through knowledge exchange, events and activities, training of students and national cadres, and support for research and innovation projects. It is worth noting that Al Buraimi Industrial City spans 14,414,294 square metres, of which 4,247,099 square metres area is already developed. Strategically divided into two geographically distinct phases, the industrial city enjoys a prime location along the Sultanate of Oman's border with the United Arab Emirates. This unique positioning offers investors and companies seamless access to the GCC markets—particularly the UAE—enhancing the city's competitive advantage through efficient cross-border trade, streamlined logistics, and proximity to major highways that connect directly to key Omani ports such as Sohar Port. Al Buraimi Industrial City is home to a diverse range of sectors, including food industries, manufacturing, logistics and warehouse services, as well as chemical and plastics industries—making it a dynamic hub for industrial growth and regional connectivity.
Times of Oman
5 days ago
- Business
- Times of Oman
Omani stock market demonstrates resilience amidst regional uncertainty
Muscat: The Omani stock market recorded its fifth consecutive day of positive performance this week, continuing its upward trajectory and further recovering recent losses. This sustained rally indicates strong underlying demand within the market, according to an industry watcher. 'This performance contrasts with broader regional trends, where markets largely continued to grapple with uncertainty, consistent with the previous week. Profit-taking was evident in some regional markets as external factors weighed on general sentiment,' said Joseph Dahrieh Managing Principal at Tickmill. 'However, the Omani stock market appeared more focused on positive internal developments, which have been bolstering investor confidence,' he further added. While potential risks associated with lower oil prices and global economic uncertainty remain, these factors have seemingly had a less pronounced impact on the Omani market lately, said Joseph Dahrieh. Given recent positive developments and current momentum, the market appears well-positioned to potentially continue its upward trend in the near term. 'Reinforcing this positive sentiment are key national economic initiatives unveiled this week. The landmark UAE-Oman agreement to develop the Al Rawdah Special Economic Zone in Al Buraimi signals a substantial long-term boost,' said Joseph Dahrieh. 'This joint venture is anticipated to attract considerable investment, stimulate cross-border trade and diverse economic sectors, thereby offering a sustained positive outlook for both the wider economy and the stock market,' he added further. The Industrial sector led the gains, continuing its strong performance for a second consecutive week with a 5.89% increase. Within this sector, Al Anwar Ceramic was higher by 4.21% and Al Maha Ceramics by 13.75%, both maintaining their upward momentum. Oman Cables Industry surged by 16.50%. OQ Base Industries contributed to the positive trend with a gain of 1.75% and was the most traded stock in terms of both value and volume. The Services sector also achieved a solid advance, rising by 2.29%. Key contributors included OQ Gas Networks, which gained 2.78%, and OQ Exploration and Production, which rose by 3.11%. In telecommunications, Oman Telecom edged higher by 0.60%, while Ooredoo recorded a strong performance, climbing 12.30%. National Gas also saw a significant increase of 8.22%. The Financial sector posted a more modest gain of 0.42%. Sohar International Bank rose by 0.71%, and Al Anwar Investment climbed by 2.41%. Muscat Finance also performed well, increasing by 3.92%, while Al Sharqiyah Investment Holding registered a gain of 1.25%.
