An agreement to build a bus assembly plant in Oman has been signed between HE Jassim bin Saif bin Ahmed al-Sulaiti, Transport Minister and Chairman of the Mowasalat Board (Karwa) and Darwish bin Ismail bin Ali al-Balushi, Omani Minister for Financial Affairs and Chairman of Oman Investment Fund.
The assembly plant will be known as Karwa Automotors.
At the agreement signing ceremony in Oman, HE al-Sulaiti said that Qatar and Oman had a "unique and very close relationship" thanks to the wise guidance of HH the Emir Sheikh Tamim bin Hamad al-Thani and Sultan Qaboos bin Saeed.
Qatar and Oman would continue to co-operate closely in key areas of mutual interest in the future, he said.
He pointed out that the bus assembly plant was the result of the close co-operation with the Omani National Committee.
He expressed his satisfaction with the periodic meetings of the ONC to discuss a number of investment and trade opportunities.
The bus assembly project will cost approximately $200mn and is located in the industrial area in Mudhaibi in Oman. It is expected to be complete within three years. Qatar's share in the project is around 70% and Oman's 30% .
The plant is expected to produce different models, including school buses.
A large number of jobs are expected to be generated as a result of this project which "is expected to contribute to the growth and development in the region".
The signing ceremony was attended by Abdullah bin Mohamed al-Khater, Qatar's ambassador to Oman, and Khalid Naasralhel CEO Karwa, Nasser al-Khanji, executive director of support services in transportation, and Mohamed Abdullah Shahwani, director of the Office of the Minister and Fatima Rumaihi, director of public relations and communications, Ministry of Transportation
© Gulf Times 2014
