Oman set to enter into an agreement for world class cargo operations
The Omani Government had laid out plans to make significant investments in new cargo facilities in various airports in the country. This comes after it received its approval for a joint venture partnership in the country.
The concessionaire for cargo handling operations is Oman Air and it operates in airports throughout Oman with the Oman Airport Management Company. The company said that it would be entering into a strategic joint venture with a world class cargo operator to manage facilities in both existing and new locations.
In a statement, Oman Air and OAMC said that it signed a joint venture agreement with Singapore Airport Terminal Services Limited. It also sais that all the parties would be carrying out due diligence and develop a business plan to operate its joint venture. Once the business plan is approved, the joint venture company would be formed with Omani companies being the majority shareholders in the joint venture.
The statement read, "Oman's international trade and commerce will immensely benefit from this new venture and the company will make vital contribution to the national economy."