Muscat: South Korea's Daewoo Shipbuilding and Marine Engineering Co has won a 10-year contract to manage a ship-repair yard in Oman, official news agency ONA said on Sunday. It said officials from the Omani government and the company signed an agreement over the running of the yard, which is part of a harbour Oman is developing at Duqm on its southeast coast at a cost of a $400m. "The management agreement is for 10 years, with an option to renew it for another 10," said a company official in the Omani capital Muscat, who declined to be identified. State-run Oman Dry Dock Co will fund the yard which is to be ready in 2009. The Gulf Arab state has invited companies to bid for contracts to build breakwaters, quays and other facilities for the harbour. [25/09/06]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
