Ash-Sharqiyah bus plant project a joint venture of Oman Investment Fund and Qatars Mowasalat
Oman Investment Fund (OIF) has signed an agreement with Qatars Mowasalat to build a $160m bus assembly plant in the Ash-Sharqiyah region of Oman.
The plant will assemble 2,000 buses a year targeting markets in Oman, other GCC countries and North Africa, OIF general manager Khalid al-Yahmadi told the Times of Oman.
OIF is putting up $48m of the fund for the facility with Mowasalat providing $112m.
Construction is expected to start in the next six months with the construction phase estimated to take two years.
The plant will be built in Mudhaibi, located about 150 kilometres south of Muscat.
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