Sohar Industrial Port Plans New Deepwater Jetty
Sohar Industrial Port Company (SIPC) has awarded a contract to a joint venture comprised of Italy’s Saipem and India’s Afcons to design and construct a deepwater bulk jetty at the Port of Sohar. Van Oord of the Netherlands is to carry out dredging for the project, the total cost of which is put at OR95mn ($248mn). The new jetty is designed to support the shipping needs of the Brazilian mining conglomerate Vale, which is building an iron ore pelletizing and distribution plant at Sohar Port. The jetty will give Sohar Port the capacity to receive Very Large Ore Carriers of 400,000 dwt, the daily reported.
The jetty is to be carried out by a special purpose project company established as a subsidiary to Sohar International Development Company (SIDC). It is a 50:50 joint venture between SIPC shareholders, the government of Oman and the Port of Rotterdam. SIDC was set up in 2008 as a sister company to SIPC for the purpose of investing in port-related infrastructure projects, including the development of Freezone Sohar. A joint venture formed by Saipem and Afcons will construct the jetty, while Saipem will take responsibility for design and project management. Local banks and the State Bank of India signed an agreement with SIPC on 28 September to provide $200mn worth of project finance (see page 4).
Copyright MEES 2009.
