Recently published research from Business Monitor International, "Oman Infrastructure Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 03/06/2013 -- BMI View: The construction sector in Oman remains robust and the outlook for 2013 is positive, with year-on-year growth of 5.5% forecast. Solid economic performance and an expanding tourism sector have provided drivers for this growth. However, risks continue to threaten our longer term outlook, as declining oil revenues are potentially tied to political unrest further down the line. The construction industry value is expected to reach US$4.3bn in 2013, rising to US$8.2bn by 2021.
Key developments for the sector:
- The Port of Duqm in Oman is to award US$285mn of construction contracts, divided into two packages, Port Strategy reports. One of the contracts will be for the support infrastructure, the gate, offices and roads, while the other will be for paving, crane rails and utilities. Work is planned to be completed in Q115, but the recipients of the awards have not been specified.
- The tender board of Oman has evaluated proposals from five bidders for the development of a US$400mn independent water project at Ghubra, in Muscat, Water-Technology reports. It was due to announce the preferred bidder in October 2012. Project work will involve designing, building, financing, operating and maintaining a desalination plant with capacity of 42mn gallons per day (Mgal/d).
- Oman and the UAE selected a 136km length of railway line connecting Sohar with the UAE border for priority implementation. A 27km spur line to Buraimi will also be part of this priority package. The total volume of freight likely to be handled by the international rail network is estimated at 42mn tonnes in 2020, rising to 62mn tonnes in 2030 and topping 73mn tonnes in 2040.
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The recent uptick in political unrest in Oman is unlikely to gather steam, and there are few substantial threats to the country's political risk profile in the near term. That said, Muscat's strategy for retaining public support is heavily reliant on handouts of government benefits, repression of dissent, and the popularity of Sultan Qaboos, strategies which are unlikely to prove sustainable over the long term.
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