MUSCAT: Musandam Global Investment Company (MGIC) has officially launched its newest branch, MP World, signalling a significant strategic move to transform the Musandam Governorate into a premier maritime gateway. This initiative kicked off with the signing of a pivotal 10-year agreement for the development and operation of the Khasab Fishery Port.

​The agreement, which marks a new era for sustainable development in the region, was signed by Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources and Raed al Shehhi, Chairman of MGIC. The Khasab Fishery Port is designated exclusively for advancing Oman's fisheries infrastructure, ensuring dedicated support for the nation’s growing blue economy.

​MGIC, a publicly listed closed joint-stock company on the Muscat Stock Exchange (MSX) with deep roots in the community — boasting 1,885 shareholders from Musandam — has already established itself as a key driver of regional prosperity since its founding in 2023. Beyond this new maritime venture, the company's portfolio includes substantial strategic projects, such as the major Tilal Al Nakheel (Palm Hills) residential development in Khasab and a partnership to establish Musandam Drydock and Marine Industries. MGIC is also pioneering sustainable initiatives, including a pilot project for Airborne Wind Energy (AWE) in collaboration with Polish start-up Njord Energy.

​The creation of MP World is positioned as the next major step in MGIC’s vision. While the Khasab facility will remain focused on fisheries, MP World has a broader mandate to manage and operate additional ports, spanning commercial, industrial and logistics facilities. This expansion aims to drive greater integration, efficiency and national value creation across the maritime sector.

​MP World is committed to blending local insight with international expertise to deliver world-class standards in operational excellence and sustainability. The company's immediate success in securing the Khasab Fishery Port agreement sets a powerful course for its ambition to manage diverse port facilities, reinforcing Musandam’s strategic role in global trade and positioning it as a dynamic hub of innovation.

2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).