Oman and Antwerpen port to develop Duqm port

Oman Observer quoted industry experts as saying that Oman’s success in snagging one of the world’s biggest ports as a partner in the management of Duqm port is a major shot in the arm for the government’s efforts to develop a world scale industrial and maritime hub on the Wusta coast. Belgium’s Port of Antwerp signed the partnership agreement with Oman’s government last month, providing for the establishment of JV Company to manage the Port of Duqm.

The JV is 50:50 partnership of the Government of the Sultanate of Oman and Consortium Antwerp Port of Belgium. The latter itself is a partnership of Antwerp Port Consultancy which is 100% subsidiary of the Port of Antwerp, and Rent a Port, a specialised Belgian based port services consultant and investor. Rent a Port specialises in, among other things, the engineering and finance of new ports, strategic advice on layout and operations, management of ports and industrial estates, organisation of marine freight of bulk materials, assisting in processing and transhipment of minerals in port areas and maintenance of shipping channels. Experts said that the company is credited with supporting the development of major ports and shore based engineering facilities in a number of countries around the world. But it is the presence of the Port of Antwerp on the JV that augurs well for Duqm’s development into a mega hub for industry, petrochemicals and ship repairs.
Ranked as the seventh largest in the world and the second largest in Europe after Rotterdam, the Port of Antwerp handled a colossal 158 million tonnes of trade during 2009. The complex handles in excess of 15,000 ocean going vessels and over 64,000 inland crafts every year. Wholly owned by the Belgian City of Antwerp, the multipurpose port is engaged in cargo handling, logistics and industrial zone development. More than 140,000 people make a living directly or indirectly from the Port of Antwerp. According to experts, the newly established management company will serve as Port Authority for Duqm, similar to the landlord model embraced by the government for the management of the Port of Sohar. The new management company’s mandate is to coordinate, manage and grow the business of Duqm Port. A preliminary study has already identified the potential for a number of economic and commercial activities, notably heavy industry, oil refining, petrochemical processing, mineral, small and medium scale manufacturing, logistics, warehousing, fisheries, and so on. As part of its brief, the Singaporean consultant is also studying Duqm’s suitability for a wide range of industrial and commercial investments based on the Wusta region’s abundant natural resources, notably oil and gas, minerals and fisheries, among others.

Source: www.omanobserver.com