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Oman’s SIDC and India’s SKIL Sign Deal
MUSCAT — A shareholders’ agreement was signed by Sohar International Development Company (SIDC) with India’s SKIL Infrastructure Ltd to develop and manage the Special Economic Zone in Sohar.
The SEZ will come up in an area encompassing 4,500 hectares in the vicinity of the Sohar Port area. The government of Oman extended the port concession area in November 2007 after having witnessed the successful development of the Port of Sohar. To attract investors and entrepreneurs, the Omani government is mulling a set of regulatory incentives to encourage low energy consumers and small to medium enterprises to take advantage of the offering at the SEZ which will be launched during the second half of this year.
SIDC is a sister entity of Sohar Industrial Port Company (SIPC) owned jointly by the Government of Oman and the Port of Rotterdam and has been managing the Port of Sohar for more than six years now. SKIL Infrastructure Ltd is a pioneer in the infrastructure sector in India.
Maqbool bin Ali Sultan, Minister of Commerce and Industry and Chairman of SIPC, said after the signing of the agreement: “We are pleased to have SKIL as our partner to develop the SEZ in Sohar. We look forward to continuing the close ties and business relations with India.”
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