HPH Outline Mega Oman Port Plan
Hutchison Port Holdings (HPH) and the Omani government have introduced a plan to expand Oman International Container Terminal (OICT) to six million TEU, which is four times its current capacity and will cost around US$300 million to complete, according to the Arabian Supply Chain.
PTI previously reported that Hutchison Whampoa – a company with significant investment in HPH – said that it will not be selling a 40% stake in its port business.
This news came shortly after a Chinese consortium had offered around $20 million for a stake in the company.
Eric IP, Managing Director of HPH, said: “OICT is the gateway to Oman and HPH has achieved its mission to consolidate Muscat and Sohar cargo and to develop Sohar Port into a modern and efficient gateway port for the North Batinah region and the Sohar Free Zone.”
“We will continue the development of facilities at the port to capture the growing trade activities in the Middle East and the potential to serve the latest class of 20,000-teu mega-vessels. We are building for the future.”
The expansion work is to start in 2018.