(MENAFN) Oman's Port of Sohar announced that a USD130 million contract has been granted to Hong Kong's Hutchison Whampoa to set up and operate a port terminal in Sohar, reported Arabian Business.
It added that the company will be also in charge of managing the terminal after completion, which is expected at the end of 2013.
The new terminal is projected to increase the port's capacity to 1.5 million (20ft equivalent units) from 800,000 TEU.
Following the expansion, Sohar will be placed in a competitive position for shipping lines that will bring their cargoes with direct lines to the country.
Furthermore, Oman will be viewed as a gateway center for these firms' transshipment cargo in the region.
It is worth noting that Sohar is home to a number of major industries, including an aluminum smelter and a free zone.
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