OMAN'S NATIONAL PROGRAM FOR ENHANCING ECONOMIC DIVERSIFICATION
‘Tanfeedh’ has brought about the focus on the development of the Non-Oil & Gas Sectors in Oman.
- Manufacturing
- Transportation and logistics
- Tourism
- Fisheries
- Mining
1. Manufacturing:
Manufacturing is estimated to contribute up to 15% of the GDP by Oman's 'Vision 2020'.
The most important project to note is the Liwa Plastic Industries Complex.
Key Facts:
The Manufacturing Sector is expected to contribute almost 2 – 3% of Oman’s GDP initially.
A total of $ 6.4bn is to be funded by international financial institutions (60%), local banks (20%) and government as well as Oman Oil Company (20%). The Liwa Project will result in ORPIC’s (Oil Refineries and Petroleum Industries Co (ORPIC) contribution to GDP to reach 9% by 2020. This project will enable the production of Polyethylene that is in high global demand for production of over 40% of total plastic applications worldwide.
2. Logistics and Transportation
Oman plans to capitalize on its strategic geographic location to become an intercontinental trans-shipment hub for global logistics & shipping connecting Asia, Africa & Europe. It is driven by the mission to be listed amongst the top 30 countries of the World Bank Logistics Performance Index by 2020.
Oman also plans to double the sector’s contribution to the economy to RO 3 bn by 2020
Key projects within the sector include:
Port of Duqm comprises Middle East’s most modern and largest ship repair yard, drydock, an SEZ with an international airport, industrial complexes and the Duqm refinery. The SEZ has many investor-friendly initiatives that have already resulted in major investments on the ground.
The Khazaen – South Al Batinah Logistics Area is a strategically located 95 Sq km World Class Logistics City and transportation hub that connects the Batinah Expressway, Oman Rail, Sea Ports and Airports provides light industrial & commercial warehousing, bespoke premises and facilities, with competitive long-term lease rates with Green Channels for facilitating licencing, and Infra and Utilities.
Largest Airport expansion project in Oman worth $ 1.8 billion at Muscat to cater to 12 MPPA (Million Passengers Per Annum) with further scope for 24 / 36 / 48 MPPA in the years to come. 4F Certification by ICAO to enable handling the world’s largest commercial aircraft. Expansion of Salalah Airport to 1 MPPA and development of other airports, ports, and free zones along with corresponding infra and ecosystems.
3. Tourism
Tourism is one of the key industries that are targeted by the Govt of Oman as part of its economic diversification plan. Oman’s Tourism Policy stands out amongst due to its unique emphasis on giving prime importance to the conservation of the Nation’s heritage, archaeology, and celebrating the pristine and rugged natural beauty that Oman is richly endowed with.
As per the plan, the Tourism Sector is expected to directly contribute 2% to 5% to the GDP by 2020.
The major impetus given to the sector has resulted in close to 39 major projects in various stages of tendering, design or construction. Some of the developments of the major project include the Duqm Frontier Town, the Oman Exhibition and Convention Centre, the Al Hoota Cave Complex, Ras Al Hadd and the Wadi Bani Habib
Madinat Al Irfan: a billion dollar ‘Green City’ Public-Private Partnerships project is tipped to provide energy savings of 20% with the extensive use of Solar Energy in terms of heaters, lighting, smart architecture, efficient HVAC systems, sustainable material’s and natural shade zones. It is proposed that this project would contribute around RO 450- 500 mn annually to the GDP
Mina Sultan Qaboos Waterfront Project: This project includes investment from the private sector and pension investment funds to the tune of RO 500 mn. Projected to be the ‘Gateway of Oman’ it is expected to attract & encourage almost 70% of the tourists visiting the port to tour the Sultanate by showcasing Omani Culture, Heritage, innovation and an exclusive Water Front
4. Fisheries
5. Mining
The history of mining in Oman can be traced to Oman's earlier name 'Majan' or the 'Land of Copper'! Oman is very rich in minerals resources that include copper, gold, chromite, dolomite, zinc, limestone, gypsum, silicon, cobalt and iron. Several industries have grown up around them as part of the national development process which, in turn, have boosted the mineral sector's contribution to the nation's GDP as well as providing jobs for Omanis.
The recent discovery of large reserves of Gold, Copper and Rare Earth in Oman has resulted in the setting up of the RO 100 mn Mining Development company with the partnership and investment of Government Funds, the Oman Oil Company and TANMIA (Oman National Investments Developments Company). Key Mining Projects include ‘Mineral Processing’ and Refining Facilities in the Port of Duqm’s industrial zone.
Duqm Mineral Concessions provides a dedicated 300-meter bulk terminal, capable of handling 5 million tons per annum, to enable mining companies export their minerals to other countries.
Blocks 4,5,6 Copper Mining Projects
Washihi Copper-Gold Project
Located 160 km South East of Muscat is a commercial open pit mine to commercialize & process copper deposits with associated gold ore. It covers 105 sq km with an estimated production capacity of 77,000 tons of copper and 18,000 tons of gold that would entail annual revenue generation of up to USD 434 million in the next 10 years. The Project Cost is estimated to be US$ 50 million
Seabed Mining Operation
An Oman-Canadian JV project at the Port of Duqm makes Oman a key equipment test & storage base for the world’s first seafloor mining project to mine gold copper, zinc and silver in the South West Pacific
Yanqul Copper Mining
The Yanqul Copper Project located in the Al Dhahira Governorate located 50km North of Ibri is a joint venture between the Oman Oil Company, the Mawarid Mining and the Oman Mining Company. This project will support all the metal-based industrial projects in Oman
Project Potash Mining Project
The Gulf Mining Group and its International partners is setting up the single largest mining project in the Sultanate which targets the prolific reserves in Central Oman with initial investments to the tune of USD $300 - $500 million
The initial targeted Raw Potash production is 500,000 metric tons per annum and will be scaled up to 1 million metric tons over a five-year period. Full production is slated by 2020.
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