A high-level team from Qatar-based auto manufacturer Karwa Automobiles will arrive in Oman to finalise a suitable site for the commencement of earthworks for an auto assembly plant in the Special Economic Zone (SEZ) at Duqm, Oman.
Karwa Automobiles is a 70 per cent shareholder in Karwa Duqm, an Omani-Qatari joint venture that has been allotted a 100-hectare site at the SEZ for the construction of Oman’s first ever auto plant, reported Oman Observer.
Oman Investment Fund owns the balance 30 per cent stake. Total investment in the venture is estimated at RO160 million ($415 million).
When fully operational, Karwa Motors Duqm will be capable of assembling as many as 2,000 units of various types of motor vehicles, including trucks, buses, vans and cars. The project is also expected to create up to 500 jobs, the report said.
Oman in push for new $415m auto assembly plant
Image: Bigstock. For illustration only.
&uuid=(email))