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
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
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.
Copyright (C) 2017. Oman News Agency. All rights reserved. Provided by SyndiGate Media Inc. ( Syndigate.info ).
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|Publication:||Oman News Agency|
|Date:||Nov 28, 2017|
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