05 December 2012
MUSCAT -- An agreement was signed yesterday at the Public Authority for Social Insurance HQs' for the construction of the Authority's multipurpose investment project that will be set up on its land in the Wilayat of Baushar at a cost of RO 68,129,291.
The agreement was signed by Shaikh Abdullah bin Nasser al Bakri, Minister of Manpower and Chairman of the Public Authority for Social Insurance (PASI), and Andy Jones, CEO of Carillion Alawi.
The agreement is related to the construction of a multipurpose investment project on 37,000 square metres. It includes 11 multipurpose commercial, residential and administrative buildings with the commercial building constituting 30 per cent of the project. The residential buildings will provide 600 housing units with utilities. The project will be implemented in 30 months.
Shaikh Al Bakri said that the investment projects come within the Authority's keenness to diversify its sources of income and ensure long term financial resources that generate revenues, thus contributing to achieving balance between the Authority's expenditures and revenues. This will enable the Authority to meet its future liabilities towards beneficiaries from the insurance system. It will also enhance the socioeconomic development witnessed by the country.
In a statement to Oman News Agency (ONA), he added that this reflects the interest shown by the Authority to the investment activity as it plays a vital role in achieving the social and economic aims of the social insurance institutions. It also comes within the Authority's plans to enhance its investment capacity.
MUSCAT -- An agreement was signed yesterday at the Public Authority for Social Insurance HQs' for the construction of the Authority's multipurpose investment project that will be set up on its land in the Wilayat of Baushar at a cost of RO 68,129,291.
The agreement was signed by Shaikh Abdullah bin Nasser al Bakri, Minister of Manpower and Chairman of the Public Authority for Social Insurance (PASI), and Andy Jones, CEO of Carillion Alawi.
The agreement is related to the construction of a multipurpose investment project on 37,000 square metres. It includes 11 multipurpose commercial, residential and administrative buildings with the commercial building constituting 30 per cent of the project. The residential buildings will provide 600 housing units with utilities. The project will be implemented in 30 months.
Shaikh Al Bakri said that the investment projects come within the Authority's keenness to diversify its sources of income and ensure long term financial resources that generate revenues, thus contributing to achieving balance between the Authority's expenditures and revenues. This will enable the Authority to meet its future liabilities towards beneficiaries from the insurance system. It will also enhance the socioeconomic development witnessed by the country.
In a statement to Oman News Agency (ONA), he added that this reflects the interest shown by the Authority to the investment activity as it plays a vital role in achieving the social and economic aims of the social insurance institutions. It also comes within the Authority's plans to enhance its investment capacity.
© Oman Daily Observer 2012
