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Omani firm to become holding company

18 March 2012

Oman's Port Services Corp (PSC), which manages and operates Port Sultan Qaboos (PSQ) in Muscat, is planning to change its structure from a Société Anonyme Omanaise Générale (SAOG) company to a holding company managing subsidiaries with diversified activities, Muscat Daily has reported. Under the proposed plan, all commercial import, export, general cargo and container activities are to be transferred to Sohar Industrial Port by the end of the current concession agreement, which expires on December 31, 2012. "This strategy will enable the company to enter into new activities such as the management of the converted PSQ tourist port , the management of other seaports and container terminals in Oman and abroad, the management of logistics distribution centres, investment and management of real estate," said chief executive of PSC, Saud bin Ahmed al Nahari.

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