Region Eyes Oman’s Infrastructure Growth

November 4, 2010

DUBAI, UAE, November 4, 2010 /PRNewswire/ — According to the Oman
Infrastructure Report Q4 2010, published recently by companiesandmarkets.com,
Oman’s infrastructure sector will remain one of the most active in the region
thanks to continued government spending, the economy’s relative insulation
from the downturn and the focus on reforming its investment climate to
attract foreign investors.

The same report states that ‘the construction industry is valued at
US$3.7bn this year and should register growth rates of around 5% in the next
three years, which beats many of its neighbours which are experiencing a
slower emergence from the real estate downturn that hit some Gulf states
particularly hard in 2008′.

Driven by its Vision 2020, Oman’s government is all set to develop
infrastructure projects with every economy sector benefiting from increased
public spending. Foreign developers, including those from other Gulf states,
are therefore showing a growing interest in Oman’s infrastructure sector. The
transport sector is one of the key areas generating value added growth for
the construction industry.

Oman’s construction industry is estimated to have posted substantial real
growth of 14.21% year-on-year in 2009, to reach a value of OMR1.31bn
(US$3.39bn). The moderately sized industry is gaining momentum with a large
number of high value projects underway and planned.

While the Omani tender board keeps awarding construction contracts to a
variety of companies, new bids are being opened regularly for additional
infrastructure projects across the Sultanate.

At IQPC and GEC’s Oman Construction Summit 2011, the country’s major
infrastructure projects and the range of investment opportunities in the
sultanate’s building and construction industry will be showcased. The ageanda
features a strong lineup of speakers consisting of ministry officials, top
executives of leading companies, prominent industry professionals and other

During the inaugural Oman Construction Summit 2011, which will be held on
30 January – 2 February 2011 at the Grand Hyatt Muscat, strategic vision,
planning and project updates will be discussed by senior representatives from
the Ministry of Transport and Communication, Ministry of National Economy,
Oman Tourism Development Company (OMRAN), Ministry of Housing, Oman Supreme
Committee for Town Planning, Public Authority for Electricity and Water,
Salalah Port, The Wave Muscat, Petroleum Development of Oman, Rural Areas
Electricity Company, Oman Chamber of Commerce and Industry, Oman Dry Dock
Company, Oman Environmental Services Holding and HAYA Water.

The Oman Construction Summit 2011 is being held under the patronage of
Oman’s Ministry of Housing, and it is officially supported by the Oman
Housing Bank, Oman Society of Contractors, the Oman Society of Engineers and
the Concrete Society. Gold Sponsors of the event are Douglas OHI, Driver
Global Construction Consultancy and Joannou & Parakevaides (Overseas) while
Associate Sponsors Sigma Paints, Parsons, OutoKumpu, and Makyol will also be
in attendance. Exhibitors include Arminox Middle East, BBR Structural
Systems, MK4 MEPS, Doka, VR, Pitchmastic PmB, RMD Kwikform Oman, PERI, KWH
Pipe, Amiantit and Unibeton.

    For more information visit http://www.omanconstructionsummit.com

    Olivia Modisakeng


Source: newswire

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