Latest news with #SaidbinHamoudAlMaawali
Zawya
14-05-2025
- Business
- Zawya
Oman: 3 agreements signed for Sultan Said bin Taimour Road dualisation
Muscat: The Ministry of Transport, Communications and Information Technology (MTCIT) signed three agreements to implement the third, fourth, and fifth parts of the dual carriageway of Sultan Said bin Taimur Road (Adam-Thumrait), with a total length of 400 km at a total cost of RO258 million. Three Agreements Signed to Implement Parts Three, Four, and Five of the Dualization of Sultan Said bin Taimour Road at a Total Cost Exceeding OMR 258 Million The total length of the three sections is 400 km, with a total cost exceeding RO258 million. It may be noted that the General Budget 2025 allocated RO 900 million for development projects under 'development expenditure' and programs approved within the budgets of civil ministries and government units. Of these, 36 percent has been allocated for the infrastructure sector, which includes major road projects to be implemented and completed this year, such as the Khasab-Daba-Lima Road, Al Sharqiyah Expressway, Adam-Thumrait Road, and Ansab-Jafnain dualisation project. This road project is a major one as it is used by a large number of tourists, especially during the Khareef season. The highway stretches 717.5km, of which 280km between Adam to Haima are dual carriageways. It may be noted that nearly 70 percent travelling to the Dhofar Governorate from the rest of the country and neighbouring nations travel by road. Agreements The agreements were signed on behalf of the Ministry by H.E. Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications, and Information Technology. Later, the minister said, "The project implementation period is 36 months, as the contractors have begun preparations that include housing for workers and delivering equipment. The road will contribute to raising the efficiency of logistical transport between the governorates of the Sultanate of Oman and between the border crossings in the north and the south, as well as to the concession areas." Part Three The first agreement, signed with an Omani-Saudi joint venture between Sarooj Construction Company (Sultanate of Oman) and Rawaf Contracting Company (Kingdom of Saudi Arabia), covers the implementation of Part Three of the Sultan Said bin Taimour Road dualization project. This section extends 132.5 kilometers from the Wilayat of Haima to the Wilayat of Muqshin, with an execution period of 36 months. The project includes the construction of a new dual carriageway with two lanes in each direction. It entails the design and construction of 16 ground-level bypass lanes, one overpass bridge, 115 reinforced concrete box culverts for surface water drainage, and 88 pipe culverts for median drainage. The project will also involve the installation of future utility ducts (broadband corridor) along the road. Additionally, the project includes the construction of 4 rest areas, 21 public parking areas, 8 emergency openings in the central median, and 22 parking bays for the Royal Oman Police. It also covers the reconstruction of the existing road at Wadi crossings and the rehabilitation of certain segments, along with the implementation of road safety features (concrete and metal barriers, road studs, road markings, and directional and warning signs). Part Four The second agreement, signed with an Omani-Saudi joint venture between Galfar Engineering and Contracting SAOG (Sultanate of Oman) and alomaier Trading and Contracting Company (Kingdom of Saudi Arabia), covers the implementation of Part Four of the project. This section extends 135 kilometers from the Wilayat of Muqshin to the Duka area, with an execution period of 36 months. This part includes the construction of a new dual carriageway with two lanes in each direction. It involves the design and construction of 14 ground-level bypass lanes, one overpass bridge, 241 reinforced concrete box culverts for surface water drainage, and 95 pipe culverts in the median. It also includes the installation of future utility ducts (broadband corridor) along the road. The project further includes 3 rest areas, 8 emergency openings in the central median, and 25 parking bays for the Royal Oman Police. It also involves the reconstruction of the existing road at wadi crossings and the implementation of road safety measures (concrete and metal barriers, road studs, road markings, and directional and warning signs). Part Five The third agreement, signed with an Omani-Saudi joint venture between Oman Gulf Company (Sultanate of Oman) and Kom Al Fahd Trading, Industry, and Contracting Company (Kingdom of Saudi Arabia), covers the implementation of Part Five of the dualization project. This section extends 132.5 kilometers from the Duka area to the Wilayat of Thumrait, with an execution period of 36 months. This section includes the construction of a new dual carriageway with two lanes in each direction. It entails the design and construction of 20 ground-level bypass lanes, 101 reinforced concrete box culverts for surface water drainage, and 110 pipe culverts in the median. It also includes 5 rest areas, 16 public parking areas, 8 emergency openings in the median, and 25 parking bays for the Royal Oman Police. In addition, the project includes reconstruction of the existing road at wadi crossings and the implementation of road safety features (concrete and metal barriers, road studs, road markings, and directional and warning signs). The implementation of these three sections follows the previously completed parts of the road from the Wilayat of Adam in Al Dakhiliyah Governorate to the Wilayat of Haima in Al Wusta Governorate, with a total length of 317 kilometers. Upon completion, the dualized road will provide a safer and more efficient transportation route, improve traffic flow, reduce road accidents, and stimulate economic, social, and tourism activities in the areas it serves. Moreover, when fully completed, the road will become the longest dual carriageway in the Sultanate, stretching from Muscat Governorate to Dhofar Governorate. The project will significantly enhance logistic connectivity across the Sultanate and open up new opportunities for economic and urban development. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
13-05-2025
- Business
- Observer
3 agreements signed for Sultan Said bin Taimour Road dualisation
Muscat: The Ministry of Transport, Communications and Information Technology (MTCIT) signed three agreements related to the dualisation of the Sultan Said bin Taimur Road (Adam-Thumrait), which is already under implementation in various stages. Agreements signed on Tuesday is for the third, fourth, and fifth parts of the dual carriageway of Sultan Said bin Taimur Road (Adam-Thumrait), with a total length of 400 km at a total cost of RO258 million. The total length of the three sections is 400 km, with a total cost exceeding RO258 million. It may be noted that the General Budget 2025 allocated RO 900 million for development projects, of which 36 percent was allocated to the infrastructure sector, including the Sultan Said bin Taimur Road, which is poised to become the longest dual carriageway in the Sultanate of Oman. The agreements were signed on behalf of the Ministry by Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications, and Information Technology. He said, "The project implementation period is 36 months, as the contractors have begun preparations that include housing for workers and delivering equipment. The road will contribute to raising the efficiency of logistical transport between the governorates of the Sultanate of Oman and between the border crossings in the north and the south, as well as to the concession areas." Agreements The first agreement was with an Omani-Saudi joint venture between Sarooj Construction Company (Sultanate of Oman) and Rawaf Contracting Company (Kingdom of Saudi Arabia) for Part Three of the project between the Wilayat of Haima to the Wilayat of Muqshin (132.5 km). It entails the design and construction of 16 ground-level bypass lanes, one overpass bridge, 115 reinforced concrete box culverts for surface water drainage, and 88 pipe culverts for median drainage. The project will also involve the installation of future utility ducts (broadband corridor) along the road. Additionally, the project includes the construction of four rest areas, 21 public parking areas, eight emergency openings in the central median, and 22 parking bays for the Royal Oman Police. It also covers the reconstruction of the existing road at Wadi crossings and the rehabilitation of certain segments, along with the implementation of road safety features (concrete and metal barriers, road studs, road markings, and directional and warning signs). The second agreement was with the Omani-Saudi joint venture between Galfar Engineering and Contracting and Alomaier Trading and Contracting Company the Part Four of the project. This section extends 135 km from the Wilayat of Muqshin to the Duka. This part includes the construction of a new dual carriageway with two lanes in each direction, 14 ground-level bypass lanes, one overpass bridge, 241 reinforced concrete box culverts for surface water drainage, and 95 pipe culverts in the median. It also includes the installation of future utility ducts (broadband corridor). The project also includes three rest areas, eight emergency openings, and 25 parking bays for the Royal Oman Police and reconstruction of the existing road at wadi crossings. The third agreement was signed with an Omani-Saudi joint venture between Oman Gulf Company (Sultanate of Oman) and Kom Al Fahd Trading, Industry, and Contracting Company, for Part Five. This section extends 132.5 km from the Duka area to the Wilayat of Thumrait. It will have 20 ground-level bypass lanes, 101 reinforced concrete box culverts for surface water drainage, and 110 pipe culverts. It also includes 5 rest areas, 16 public parking areas, 8 emergency openings in the median, and 25 parking bays for the Royal Oman Police. The implementation of these three sections follows the previously completed parts of the road from the Wilayat of Adam in Al Dakhiliyah Governorate to the Wilayat of Haima in Al Wusta Governorate, with a total length of 317 kilometers. Upon completion, the dualized road is expected to reduce road accidents.
Times of Oman
23-04-2025
- Business
- Times of Oman
Stronger skies ahead
Muscat: In a strong show of alignment and ambition, Oman Air and Oman Airports jointly announced a series of transformative achievements and forward-looking strategies at a high-profile press conference in Muscat on Wednesday, underscoring their shared vision for a financially sustainable and globally competitive aviation sector. Held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology and Chairman of both companies, the event spotlighted 2024 milestones while outlining bold reforms set to redefine the Sultanate's aviation landscape. Speaking at the event, Eng. Al Maawali highlighted the strategic collaboration between Oman Air and Oman Airports, calling it a model of national integration aligned with Oman Vision 2040. 'This united vision is not just about business transformation—it is about positioning Oman as a competitive, sustainable aviation hub,' he said. The event saw participation from senior executives, including Con Korfiatis, Chief Executive Officer (CEO) of Oman Air, and Hamood bin Musbah Al Alawi, Acting CEO of Oman Airports, along with representatives from government entities, media, and strategic partners. Oman Air reported strong momentum in its first full year of transformation. Key financial improvements included a 51% year-on-year rise in EBITDA, despite legacy financing costs amounting to OMR85 million. The national carrier transported over 5.4 million passengers in 2024, with the number of Available Seat Kilometres (ASK) reported at around 19.4 billion, and its point-to-point traffic surged to 40%, up from 27% in 2019. The airline completed a rightsizing programme that reduced expatriate staff by 487, increased Omanisation to 79.4% from 74.8% in 2023, and trimmed 13 aircraft from the fleet. These efforts are projected to deliver annual savings of OMR18 million. Oman Air also redeployed 74 Omanis internally, absorbed 87 into the wider aviation ecosystem, and provided severance packages for 293 employees—an investment of nearly OMR15 million aimed at ensuring financial security. Operationally, Oman Air posted a 92% on-time performance, ranking second in the MENA region by Cirium and second globally for December 2024 by OAG. It also bagged major international awards including APEX World Class, Best in Seat Comfort (APEX), and Best Airline Staff (Skytrax). Looking ahead, the airline is preparing to join the Oneworld Alliance in June 2025. It has already recorded its highest-ever passenger load in Q1 2025 and will launch a new route to Amsterdam in July. Frequencies will also increase for key routes: double-daily flights to London from October and daily service to Moscow. Oman Airports: Digitally driven, nationally focused In mid-2024, Oman Airports launched a digital transformation plan aimed at boosting efficiency and enhancing passenger experience. This includes self-service baggage drop systems, advanced crowd management tools, and a centralised digital operations dashboard. The operator posted its strongest EBITDA since inception, up 43%, and recorded a net profit of OMR 23.5 million—a 15% rise from the previous year. Total group revenue reached OMR 142.6 million, with Muscat International Airport welcoming 12.9 million passengers (+2% vs. 2023). Salalah Airport outperformed pre-pandemic levels, surpassing its 2019 figures by 17.3%, alongside a 33% increase in shareholder equity. Oman Airports' Omanisation efforts were also noteworthy. A total of 357 nationals were recruited across airport contracts to replace expatriates, with 71 former Oman Air employees absorbed following the airline's restructuring. An additional 67 Omanis were employed to manage Muscat airport parking operations after the company brought this service in-house. Following the exit of a ground handling operator from the local market, Oman Airports also secured the jobs of 227 Omanis. Despite operational challenges such as high emergency maintenance costs and underutilised land assets, officials expressed confidence in returning to pre-COVID transit passenger levels by 2026, supported by a rising number of tourist visa holders and direct flights into Salalah from Europe. Both entities reaffirmed their shared commitment to sustainable growth, innovation, and strategic partnerships that strengthen Oman's global aviation standing. Airfares to be fixed during Khareef In a move welcomed by travellers, Oman Air confirmed that airfares on the Salalah–Muscat route will be capped during the upcoming Khareef season. The measure aims to make domestic air travel more affordable and encourage inbound tourism to the Dhofar region, particularly during the high-demand monsoon months.
Zawya
21-04-2025
- Business
- Zawya
Oman: ADFIAP forum to focus on role of development financing
Muscat: The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), hosted by the Sultanate of Oman and represented by the Development Bank (DB), will be held from 23 to 25 April 2025 at the Mandarin Oriental Muscat. The meeting will address topics such as community economic empowerment and the impact of development in Oman, the human factor in building entrepreneurial communities, aligning capital with development goals, and financing resilience to build sustainable economies. The opening of the meeting will be held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology. This year's meeting is held under the theme 'Economic Gardening and Development,' highlighting the role of development financing in supporting the national economy. The event brings together around 300 participants from over 40 countries, including a distinguished group of decision-makers, experts and specialists in finance and development from both within and outside the Sultanate of Oman. The meeting will showcase initiatives in green banking, sustainable lending practices, environmental risk management, and innovative green financing tools. It will also explore climate resilience strategies, innovative financial instruments, international cooperation to build resilience, and the vital role of second-tier institutions in driving local economic growth and sustainability. The meeting aims to facilitate the exchange of knowledge and expertise among participants on ways to empower communities and achieve sustainable economic development. It also includes discussions on key issues such as green finance and the role of financial institutions in addressing climate challenges, contributing to enhanced economic resilience and the achievement of sustainable development goals. Hamad bin Salim Al Harthy, Chief MSME & Portfolio Management at DB and General Supervisor of the Meeting, emphasised the importance of the event, noting that it contributes to strengthening effective partnerships, empowering communities, and achieving sustainable economic development through the exchange of ideas and successful experiences. He added that the meeting presents a unique opportunity to discuss the challenges facing financing institutions and ways to overcome them through international cooperation. He explained that hosting the meeting was the result of prior coordination, as the bank is an active member of this global association. Al Harthy noted that the association, founded in 1976, comprises development financing institutions and development banks serving various economic sectors across 97 countries, with around 100 member institutions. He highlighted that the Sultanate of Oman joined the association in 2019, at a time when the bank was seeking partnerships and similar banking organisations to benefit from their experiences, particularly in addressing sustainability challenges. He confirmed that since joining, the bank has participated in numerous meetings and is among the first Arab banks to become a member of the association, with the Kingdom of Saudi Arabia joining later. He added that the meeting features a fixed agenda, including meetings of the Board of Directors and the General Assembly, during which sustainability initiative awards are presented at both institutional and individual levels. DB has received several of these awards from development banks and institutions. Al Harthy explained that Oman's membership in the association has enabled access to a wealth of studies and practical experiences, the organisation of exchange visits with development banks in Malaysia, the signing of memoranda of understanding with member banks, and the delivery of training workshops for the bank's staff. He stated that the DB offers microfinance products targeted at individuals running home-based micro-enterprises or small businesses in need of development and additional capital. The objectives of microfinance include empowering individuals to become productive members of society, creating job opportunities for youth, supporting the culture of entrepreneurship, and promoting innovation and creative ideas. The meeting will also feature the signing of several memoranda of understanding between regional and international development institutions, aimed at strengthening cooperation in financing. It will include interactive sessions, and on the final day, participants will be taken on a tour to Nizwa in Al Dakhiliyah Governorate, as part of efforts to familiarise international guests with Oman's rich history and culture. This tour will offer participants a chance to discover the cultural heritage of Oman and engage with the local community. Hosting the event in Muscat reflects the Oman's growing prominence in development finance and its support for entrepreneurship and small and medium enterprises. It is also a valuable opportunity to enhance international cooperation and exchange best practices in the sector, contributing to sustainable development. Oman aspires to reinforce its position as a regional hub for finance and development in line with the strategic goals of Oman Vision 2040. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
19-04-2025
- Business
- Times of Oman
ADFIAP forum to focus on role of development financing
Muscat: The 48th Annual Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), hosted by the Sultanate of Oman and represented by the Development Bank (DB), will be held from 23 to 25 April 2025 at the Mandarin Oriental Muscat. The meeting will address topics such as community economic empowerment and the impact of development in Oman, the human factor in building entrepreneurial communities, aligning capital with development goals, and financing resilience to build sustainable economies. The opening of the meeting will be held under the patronage of Eng. Said bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology. This year's meeting is held under the theme 'Economic Gardening and Development,' highlighting the role of development financing in supporting the national economy. The event brings together around 300 participants from over 40 countries, including a distinguished group of decision-makers, experts and specialists in finance and development from both within and outside the Sultanate of Oman. The meeting will showcase initiatives in green banking, sustainable lending practices, environmental risk management, and innovative green financing tools. It will also explore climate resilience strategies, innovative financial instruments, international cooperation to build resilience, and the vital role of second-tier institutions in driving local economic growth and sustainability. The meeting aims to facilitate the exchange of knowledge and expertise among participants on ways to empower communities and achieve sustainable economic development. It also includes discussions on key issues such as green finance and the role of financial institutions in addressing climate challenges, contributing to enhanced economic resilience and the achievement of sustainable development goals. Hamad bin Salim Al Harthy, Chief MSME & Portfolio Management at DB and General Supervisor of the Meeting, emphasised the importance of the event, noting that it contributes to strengthening effective partnerships, empowering communities, and achieving sustainable economic development through the exchange of ideas and successful experiences. He added that the meeting presents a unique opportunity to discuss the challenges facing financing institutions and ways to overcome them through international cooperation. He explained that hosting the meeting was the result of prior coordination, as the bank is an active member of this global association. Al Harthy noted that the association, founded in 1976, comprises development financing institutions and development banks serving various economic sectors across 97 countries, with around 100 member institutions. He highlighted that the Sultanate of Oman joined the association in 2019, at a time when the bank was seeking partnerships and similar banking organisations to benefit from their experiences, particularly in addressing sustainability challenges. He confirmed that since joining, the bank has participated in numerous meetings and is among the first Arab banks to become a member of the association, with the Kingdom of Saudi Arabia joining later. He added that the meeting features a fixed agenda, including meetings of the Board of Directors and the General Assembly, during which sustainability initiative awards are presented at both institutional and individual levels. DB has received several of these awards from development banks and institutions. Al Harthy explained that Oman's membership in the association has enabled access to a wealth of studies and practical experiences, the organisation of exchange visits with development banks in Malaysia, the signing of memoranda of understanding with member banks, and the delivery of training workshops for the bank's staff. He stated that the DB offers microfinance products targeted at individuals running home-based micro-enterprises or small businesses in need of development and additional capital. The objectives of microfinance include empowering individuals to become productive members of society, creating job opportunities for youth, supporting the culture of entrepreneurship, and promoting innovation and creative ideas. The meeting will also feature the signing of several memoranda of understanding between regional and international development institutions, aimed at strengthening cooperation in financing. It will include interactive sessions, and on the final day, participants will be taken on a tour to Nizwa in Al Dakhiliyah Governorate, as part of efforts to familiarise international guests with Oman's rich history and culture. This tour will offer participants a chance to discover the cultural heritage of Oman and engage with the local community. Hosting the event in Muscat reflects the Oman's growing prominence in development finance and its support for entrepreneurship and small and medium enterprises. It is also a valuable opportunity to enhance international cooperation and exchange best practices in the sector, contributing to sustainable development. Oman aspires to reinforce its position as a regional hub for finance and development in line with the strategic goals of Oman Vision 2040.
