Logistics firm takes over stake in port operator

05 September 2016

 APM Terminals owns 30 per cent stake in Salalah Port Services

The Oman government transferred its 20 per cent stake in Salalah Port Services to the newly-formed Oman Global Logistics Group (OGL), a holding company fully owned by the Finance Ministry, according to a local media report.

Salalah Port Services operates and manages the transhipment port and logistics hub.

The Netherlands’ APM Terminals has a 30 per cent stake in Salalah Port Services. It signed a 30-year concession with the government of Oman to build and manage the container facility in 1996.

The other shareholders include the Government Pension Fund and Public Authority for Social Insurance (23 per cent), institutional investors (19 per cent) and others (8 per cent).

Over 3,200 vessels call at the Salalah port annually, taking advantage of the port’s strategic location on the Indian Ocean. The port lies almost equidistant to the markets of East Africa, the Indian subcontinent and the Arabian Gulf.

OGL was formed in June as a holding company to invest in ports, free zones, railway, maritime and land transport companies.

OGL’s key mandate is to implement the sultanate’s National Logistics Strategy 2040, which is designed ”to activate the potential of the private sector in nurturing logistics through joint investments and innovation, as well as in developing national capacity by creating jobs.”

 

 

 

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications