Port of Sohar sign expansion agreement

The Government of the Sultanate of Oman represented by HE Ahmed bin Abdulnabi Macki, Minister of National Economy, Deputy Chairman of the Energy Resources and Financial Affairs Council and HE Maqbool bin Ali bin Sultan,
Minister of Commerce and Industry, Chairman of the Board of Sohar Industrial Port Company SAOC as well as the Port of Rotterdam, represented by Hans Smits, CEO, signed an Addendum to the existing Concession Agreement for the Port of Sohar.

The signing was attended by other Ministers and dignitaries, the Ambassador of the Netherlands, as well as members of the Executive and Supervisory Board of the Port of Rotterdam and Port of Sohar.

The Port of Sohar, situated about 200 km from Muscat as well as Dubai, located outside the Arabian Gulf, is managed since July 2002 by the 50 / 50 joint venture between the Government of the Sultanate of Oman and the Port of Rotterdam, called Sohar Industrial Port Company SAOC (SIPC).

Besides the extension of the present Sohar Industrial Port concession area of 2,000 ha to over 6,000 hectares, the Addendum facilitates the further extension of the concession period to
2043. The Addendum also facilitates the joint development and management of future bulk
facilities as well as the Sohar Special Economic Zone and other pending projects.

HE Macki mentioned "The signing of this Addendum is a logical step in the further strengthening of the relations between the Government and the Port of Rotterdam. The development of the Port of Sohar as part of the diversification of the economy of the Sultanate has been a success."

"The know how and experience of the Port of Rotterdam combined with the fast and non bureaucratic decision making of the Government resulted in this unprecedented Industrial Port development. This Addendum will make considerable
further expansion possible, specifically in the field of downstream and logistic activities." Hans Smits fully agreed with the above statement of HE Macki.

He added "For the Port of Rotterdam it is a pleasure and an honor to work with such an efficient and reliable partner as the Government of the Sultanate. "

"The joint management of the Port of Sohar fits very well in the international strategy of the Port of Rotterdam. This future expansion will facilitate many downstream industries which have already informally approached SIPC for space in or near the port. "

"The increased activity will also cause more shipping lines to call at Sohar which will help to lower the transportation costs for Omani businesses even further. "

"I am convinced that the Landlord model for Port Management as used for the Port of Sohar is part of the success. We look forward to a long and fruitful cooperation in Sohar and if possible also elsewhere in the region."