Oman Mega Projects On The Rise!

Like the rest of the GCC Oman is moving ahead strongly with Mega Project development. Currently Oman has over $100 Billion allocated for a wide variety of Mega Projects. In fact the Mega Project industry of Oman is expanding so fast that MEED(Middle East Economic Digest) is holding a large event October 28-30 in Oman at the Grand Hyatt Muscat called MEED Oman Projects Forum 2013. What follows is more information from MEED about the Forum and the Mega Projects being developed in Oman. Additionally I have included a chart of the top 40 Oman Mega Projects along with the amount of money (in US dollars) budgeted for each project.

A total of 50 speakers will address the event which will be attended by 200 delegates from the Sultanate, the Middle East region and the world beyond. The conference is supported by Oman’s Ministry of Commerce & Industry and will hear an opening address from His Excellency Ahmed bin Hassan Al Dheeb, Undersecretary, Ministry of Commerce & Industry.

Figures compiled by MEED Projects show 40 major projects are being executed or planned in the Sultanate. Of these, almost 25 percent are for major projects in the construction sector, which is dominated by plans to build a new town in Duqm. A similar amount of capital investment is planned in the transport sector. This includes the $15bn national rail program. Oil and gas projects combined account for almost $40bn of major projects being executed or planned in Oman.

Oman is already pushing ahead with many major projects. Around $40bn worth of them are under execution, though some of the larger ones are at an early stage of development. But the largest portion of the Omani major project program is yet to come to the market. More than $50bn of major projects are under design or study.

The pace of execution of the major program is expected to be swift. Some $56bn of major projects under execution or planned are due for completion by the end of 2017. All $112bn of projects are due for completion by the end of 2022, MEED Projects figures show.

The forum will hear a progress update about the Duqm port and special economic zone, which is Oman’s largest single Mega Project with budgeted investment of $20bn. Duqm is to be the location of a 250m barrel oil storage facility and a range of new industries.

“We’re delighted with the response to this year’s forum,” says MEED Events Chairman Edmund O’Sullivan. “The speakers are first-class and we are very grateful to the Minister of Economy HE Dr Ali Al Sunaidy and his colleagues for their wonderful support. This conference will set a new benchmark for everyone doing business in and with Oman.”

Oman Projects Forum 2013 is supported by the National Bank of Oman as strategic partner; Oman Development Bank as SME Financial Partner; Ernst &Young as Knowledge Partner and Hill International as conference sponsor.

TOP 40 OMAN MEGA PROJECTS UNDER EXECUTION OR PLANNED INCLUDING BUDGETS FOR EACH PROJECT:

Project and Project Budget (in $Millions)

1.  Duqm new town 20,000

2.  Oman national railway 15,600

3.  Duqm refinery & petrochemical complex 15,000

4.  Khazzan & Makarem fields 15,000

5.  Muscat & Salalah international airport expansion 5,200

6.  Gas-based steel plant 3,000

7.  The Wave development 3,000

8.  Batinah expressway 2,600

9.  Sohar Aluminium smelter expansion 2,400

10. Sohar refinery expansion project 2,300

11. Duqm IWPP 2,000

12. Haima Solar thermal hybrid power plant 2,000

13. Oman convention and exhibition centre 1,800

14. Masirah island causeway 1,500

15. Sur IPP 1,500

16. Sultan Qaboos medical city complex 1,480

17. Batinah coastal road project 1,312

18. Bidbid to Sur dual carriageway 1,156

19. Yibal Khuff sour development project 1,050

20. Development of Block 60 (Abu Butabul) 1,000

21. International medical city 1,000

22. Rabab-Harweel integrated project 1,000

23. Saraya Bandar Jissah Resort 1,000

24. Sohar iron ore pelletising plant expansion phase 2 1,000

25. Sohar PTA & PET plant 850

26. Dualization of Adam to Thumrait road 800

27. Sur steel plant phase 1 665

28. Nahayda-Ras Markaz terminal-Duqm refinery pipeline 600

29. Solar power plant (CSP) 600

30. Bodour NE Integratedsour oil and gas development project 500

31. Condensate recovery maximization 500

32. Main oil line true vapour pressure control project 500

33. Marmul enhanced oil recovery facilities phase 2 500

34. Marmul enhanced oil recovery facilities phase 3 500

35. Ras Markaz crude storage terminal 500

36. Rima fields Cluster 500

37. Salalah EDC and caustic soda facility 500

38. Sohar iron ore pelletising plant 500

39. Suwaiq IWP 500

40. Water Discus hotel Oman 500

For more information visit:
http://www.meedconferences.com/oman/