(MENAFN- Muscat Daily) Muscat- ASYAD Group subsidiary Marafi signed a memorandum of understanding (MoU) with Khazaen Economic City to develop and operate dry port facilities in Khazaen. Khazaen Economic City and Marafi will work together to develop the project.
Khazaen, envisioned as an international logistics hub, is spread over a total area of 51mn sqm in the Governorate of South Al Batinah and will have a dry port along with logistics, industrial, commercial and residential zones. The proposed city will be developed in several phases to become an integrated city.
Marafi was established to manage and operate maritime services and handling of vessels at the ports and terminals in Oman and internationally.
As per the MoU, both parties have agreed to obtain all the necessary approvals and permits and complete the due diligence required to sign the definitive agreements before the end of 2018.
To fulfill the objective of the MoU, Marafi will set up a special purpose vehicle with key local logistics partners from the private sector to develop and operate Oman's first dry port. The dry port facilities will be a key demand driver and enabler for the Khazaen development.
Abdulrahman al Hatmi, ASYAD Group CEO, said, 'Signing of this MoU is extremely significant. Dry ports efficiently promote economic and social development in the surrounding areas by generating employment and income. Khazaen will support the significant potential for Oman's logistics sector. The dry port at Khazaen will speed the flow of cargo between ships and major land transportation networks. It will improve the movement of imports and exports by moving the time-consuming sorting and processing of containers, away from congested seaports. It comes in line with the Oman Logistics Strategy 2040.'
Dr Ahmed al Abri, CEO of Marafi, said, 'This is an exciting time to be part of such a significant project in Oman's economic growth. We are looking forward to bringing our expertise to this development. The involvement of private sector partners will strengthen the port's capabilities, outreach, services and scope of supply.'
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