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Laying Foundation Stone of Karwa Motors in Duqm Thursday.

Muscat, Nov 28 (ONA) --- A ceremony will be held this Thursday to

mark the laying of the foundation stone for the bus manufacturing

project (Karwa Motors) in Duqm Special Economic Zone under the

patronage of Yahya bin Said al-Jabri, Chairman of the Special

Economic Zone Authority of Duqm (SEZAD).

The new project is a strategic partnership between Qatar Transport,

the national transport company in Qatar that owns 70 per cent stakes

of the company. Oman Investment Fund, a sovereign wealth fund in

the Sultanate of Oman, owns 30 per cent of the stakes. The two parties

will invest about USD 90 million in the first phase of the project, which

has the potential to become an active hub for the bus industry in

Duqm.

The laying of the foundation stone is a milestone in the

implementation of a historic initiative to build the first bus

manufacturing and assembly plant in the Sultanate as a strategic

investment by the governments of Oman and Qatar.

The initial capacity of the plant is to produce 1,000 buses per year

and up to 3,000 buses at the peak capacity of the plant, following the

gradual expansion of the plant based on market demand.

The factory is designed to produce coach and city buses including

civil buses and school buses to meet the local and regional market

needs. It will allow Karwa Motors to sell its buses in the Middle East

and North Africa region with greater flexibility while prioritizing Omani

and Qatari markets. Demand for buses around the world is on the rise

and this production will grow to supply the regional bus requirement's

increasing demand.

The project will be built on an area of 220,000 square meters in its

first phase, employing 200 employees and workers in the first phase

alone, which is expected to double as the project expands. It will also

contribute to development research, manufacturing spare parts, design

and international marketing departments.

--- Ends/AH

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Publication:Oman News Agency
Geographic Code:7OMAN
Date:Nov 28, 2017
Words:343
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