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SOHAR continues to attract investment despite coronavirus pandemic

23 May 2021

Despite the current challenging market conditions resulting from the COVID-19 pandemic and fluctuating oil prices, SoharPort and Freezone (SOHAR) said it is continuing to attract foreign investment and reported an increase in cargo volume and overall performance in 2020.

Sohar Port recorded 100 per cent growth in ship-to-ship cargo given its strategic location and its reputation for delivering unmatched quality of service with quick turnaround times, according to a press statement.

The port recorded a 1 per cent increase in the number of containers that reached the port, whilst breakbulk increased by 18.2 per cent, liquid bulk by 5.9 per cent and dry bulk by 1.5 per cent.

Mark Geilenkirchen, CEO of Sohar Port, said, “Since the start of the pandemic in the first quarter of 2020, one of the key challenges faced by businesses around the globe has been securing supply chains and ensuring their business continuity.” 

“At SOHAR, we put in place precautionary measures and identified solutions to best serve our clients and the various markets. A testament to our proactive approach, we were able to continue contributing to the sultanate’s GDP and support the objectives of the government of Oman in its diversification plans,” Geilenkirchen added.

Complementing the growth of the port, SoharFreezone also showcased significant development. 

It has recorded a 3.8 per cent increase in total exports, 14.6 per cent rise in represented companies and 1.1 per cent increase in total throughput.

Omar Mahmood al Mahrizi, CEO of SoharFreezone, said, “We continue to attract foreign direct investments and support the continuity and growth of existing businesses by implementing efficient business procedures, digitalising our processes and improving the level of services provided.”

He said, “Hosting several integrated services and plenty of leasable land options at our complex, we can provide potential investors with a unique offering at SOHAR. With a number of projects in the pipeline and the launch of the Solar PV farm, we look forward to expanding further and tap into markets, regionally and globally, allowing us to increase our contribution to the objectives of the Oman’s Vision 2040 and boost the position of the logistic sector.”

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