South Korean Firms to Participate in $27 bn Worth of Omani Projects

Source: Oman Observer 11/1/2016, Location: Middle East

South Korean companies are participating in a slew of Omani energy and infrastructure projects worth approximately $27.1 billion, Yonhap News Agency said quoting the country’s Trade Ministry.

The statement came at the end of talks between the economic cooperation committees of the two countries. The joint committee has been meeting every other year since 2009, with the latest meeting having taken place in Seoul.

According to the report, South Korea firms will be involved in building a refinery in Duqm, a petrochemical plant in Sohar, the Oman-Iran underwater gas pipeline, a national railway network and other related ventures. Oman will consider setting up a ‘Korea Desk’ that will assist South Korean companies operating in the country and serve as a one-stop centre for solving administrative problems, they said.

The two countries will launch a working-level group of experts from the government and business community to discuss cooperation in renewable energy and an energy storage system. They will also seek an agreement for information and experience sharing between regulatory bodies, officials said.


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