Latest news with #AsyadGroup
Zawya
2 days ago
- Business
- Zawya
Construction advances on the UAE-Oman Hafeet Rail project
Construction on the Hafeet Rail project connecting the UAE and Oman is progressing with groundwork and railbed preparation and structural works on major bridges and tunnels underway in both countries, according to a press statement released by the operator on Thursday. In February 2025, Zawya Projects reported that Hafeet Rail awarded strategic contracts for the construction of the railway. The company has signed an signed a logistics agreement with Itaminas Comércio De Minérios S.A., one of Brazil's leading iron ore producers, covering Sohar Port's rail-connected facilities for iron ore import and value-added processing. The Hafeet Rail statement said Itaminas, as part of its long-term growth strategy, is actively exploring the establishment of segments of its value chain in the GCC, capitalising on the region's infrastructure, energy resources, and strategic location. Hafeet Rail, a joint venture between the UAE's Etihad Rail, Mubadala and Asyad Group, is responsible for the implementation and operation of the 238-kilometre (km) railway network. The network will feature 60 bridges, some rising up to 34 metres, and tunnels spanning 2.5km. (Writing by Deva Palanisamy; Editing by Anoop Menon) (
Times of Oman
13-05-2025
- Business
- Times of Oman
Oman Investment Authority announces winners of its Excellence Award
Muscat: Oman Investment Authority (OIA) has revealed the winners of the second edition of its Excellence Award, reinforcing its commitment to fostering a culture of continuous improvement and recognising companies that contribute to national goals while encouraging competitiveness and performance excellence. Omantel secured the award in the Growth and Job Creation category for increasing its revenue compared to the previous year, allocating 18% of its assets to new projects—achieving 98% of its annual targets. The company also created new jobs for Omanis alongside replacements, raising its Omanisation rate to 94%. ITHCA Group excelled in the Financial Sustainability category, ranking highest in the 2024 financial sustainability assessment due to significant improvements in key indicators and delivering positive financial performance. In the Private Sector and SME Empowerment category, Omra Group won for achieving high growth in SME development, facilitating private-sector investment exits, and ensuring 56% of total investments were private-sector driven. OQ Group claimed the Local Value-Added, Research, Development and Innovation award for having the highest average spending on local value-added within its supply chain in 2023–2024. The group also led in supplier development programs, local product and service customisation, and R&D initiatives. Asyad Group won the Project Excellence award for its Asyad Container Terminal in Duqm, recognized for efficient execution within budget, timeline, and safety standards, alongside a 70% Omanisation rate and 43% local procurement, boosting in-country value. Abdulsalam Mohammed Al Murshidi, OIA Chairman emphasised the authority's responsibility beyond financial returns, stating its focus on national priorities like economic diversification, local value addition, knowledge transfer, job creation, and governance best practices. He noted that the award reflected tangible progress, with companies showing improved 2024 revenues, new investments, operational expansions, and sustained Omanisation efforts. Strategic private-sector partnerships and SME support initiatives also grew, alongside increased local procurement, which directed OMR265.5 million to SMEs. Local value-added rose to 32% in 2024 (from 23% in 2023), with over 50 innovative projects developed. The announcements were made at the ninth Rawabit Forum, held under the patronage of Dr. Khamis Saif Al Jabri, Head of Oman Vision 2040 Implementation Follow-up Unit, and attended by board chairs and CEOs. The forum highlighted innovation and alignment with national priorities. OIA showcased its role in advancing Oman's agenda, including human capital development—creating 6,500 jobs (77.7% Omanisation) across its 41,000-strong workforce. It also emphasised local value-added integration into subsidiary KPIs, a social investment policy launched in Q1 2024, and reducing subsidiary debt by OMR1.8 billion in 2024 to enhance credit ratings and reinvestment capacity. The National Development Portfolio (NDP), established in 2021, has contributed OMR3 billion to the state budget, with OMR8 billion invested in Oman Vision 2040 priority sectors. OIA launched the NDP Strategy to amplify its support for Oman Vision 2040, focusing on renewable energy, hydrogen, carbon neutrality by 2050, downstream value addition, sector localization, and competitive advantage. The forum also saw key agreements, including Asyad's partnership with Hafeet Rail and Takatuf Oman to enhance logistics training, and Mazoon Mining's $270 million financing from local and regional banks, alongside construction contracts with Asyad, ONIC, and Strabag Oman.
Zawya
13-05-2025
- Business
- Zawya
Oman: Asyad Group adopts Global Impact Disclosure Framework
MUSCAT: Asyad Group announced the launch of its 'Global Impact Disclosure Framework', marking it as the first Omani company and second global logistics provider to disclose its sustainability impact through the global framework established by the Impact Disclosure Taskforce, in collaboration with J P Morgan's Development Finance Institution. As one of the first logistics providers in the region to adopt this advanced global framework, Asyad is setting new standards for evaluating the impact of its development projects in relation to the UN Sustainable Development Goals (SDGs). This disclosure bolsters global financial market confidence and catalysis more green investments in Oman. The launch was announced during Asyad Group's participation in the Oman Sustainability Week 2025, where Asyad was also awarded the Platinum Award in ESG, for the second consecutive year, in recognition of its leading role in embedding sustainability standards across its operations and their innovative green logistics solutions that contribute to Oman's Net-Zero 2050 goals. Essam al Sheibany, Vice President of Sustainability at Asyad Group, emphasised that this disclosure reflects the Group's deep commitment to sustainable development and effective governance, stating: 'We believe that transparency is the foundation of real progress. This framework provides clearer visibility into the environmental and social impact of our logistics investments, enabling stronger partnerships and reinforcing our role in shaping a low-emissions, future-ready logistics sector.
Zawya
13-05-2025
- Business
- Zawya
Postal Prosperity Zone Oman project to launch this month
MUSCAT: A landmark initiative to integrate the Sultanate of Oman into the Postal Prosperity Zone (PPZ) – a global innovation programme promoted by the Universal Postal Union (UPU) – formally get underway this month. Overseeing the delivery of the PPZ Oman project is the partnership of Oman Post, part of Asyad Group, and UPU member Logistic-Natives, an international logistics infrastructure network for modern commerce. 'The PPZ Oman project, designed and managed by Oman Post and UPU CC member Logistics Natives, will start in May 2025, positioning Oman as a strategic node in a future-oriented, postal-driven e-commerce superhighway,' Berlin-based Logistic-Natives announced in a post on Monday. Plans for the establishment of the a PPZ project in Oman – the first in Asia and the Gulf region – were first unveiled last month during a visit by a high-level delegation from the Universal Postal Union (UPU), its Consultative Committee (UPU CC), and representatives from the World Customs Organization (WCO), government institutions, and global e-commerce stakeholders including Cainiao, SF Express and YTO. The underlying objective was to firm up plans for the establishment of the Middle East's first PPZ in the Sultanate of Oman. The PPZ initiative aims to enhance the integrated logistics network by establishing seamless digital links between Oman Post and international e-commerce platforms. It supports the development of modern customs systems and strengthens Oman's global transport competitiveness. The project focuses on real-time data exchange between postal and customs services, unifying labelling and tracking procedures, and optimising the movement of goods across air, sea, rail and road networks. Logistic-Natives, an association representing the interests of over 30,000 companies in the logistics industry, has described the PPZ initiative as a 'model for seamless cross-border e-commerce'. 'The PPZ initiative is a global innovation programme initiated by the UPU CC,' the German infrastructure network noted in its post. 'Fully aligned with UPU and WCO standards and regulations and based on existing UPU IT infrastructure, it facilitates cross-border e-commerce by (1) Establishing direct IT connectivity and integration between national posts and commercial senders (e.g. marketplaces); (2) Upgrading customs clearance flows and related infrastructure to meet global benchmarks and best practices; and (3) Optimising the digital and operational capabilities of national posts to provide competitive e-commerce delivery solutions and services which meet the requirements of commercial senders.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
12-05-2025
- Business
- Observer
Asyad Group adopts Global Impact Disclosure Framework
MUSCAT: Asyad Group announced the launch of its 'Global Impact Disclosure Framework', marking it as the first Omani company and second global logistics provider to disclose its sustainability impact through the global framework established by the Impact Disclosure Taskforce, in collaboration with J P Morgan's Development Finance Institution. As one of the first logistics providers in the region to adopt this advanced global framework, Asyad is setting new standards for evaluating the impact of its development projects in relation to the UN Sustainable Development Goals (SDGs). This disclosure bolsters global financial market confidence and catalysis more green investments in Oman. The launch was announced during Asyad Group's participation in the Oman Sustainability Week 2025, where Asyad was also awarded the Platinum Award in ESG, for the second consecutive year, in recognition of its leading role in embedding sustainability standards across its operations and their innovative green logistics solutions that contribute to Oman's Net-Zero 2050 goals. Essam al Sheibany, Vice President of Sustainability at Asyad Group, emphasised that this disclosure reflects the Group's deep commitment to sustainable development and effective governance, stating: 'We believe that transparency is the foundation of real progress. This framework provides clearer visibility into the environmental and social impact of our logistics investments, enabling stronger partnerships and reinforcing our role in shaping a low-emissions, future-ready logistics sector.
