Post by : Bianca
Haleem
Oman's state-owned logistics group Asyad and French shipping company CMA CGM have signed a $400 million agreement to develop a major logistics terminal at Sohar Port. The project is aimed at strengthening Sohar's role as a leading regional and international trade hub.
The agreement was signed during Sultan Haitham bin Tarik's state visit to Paris. It was part of a wider group of strategic agreements signed between Oman and France to expand economic and investment cooperation.
New Terminal to Improve Cargo Operations
The project will establish a modern logistics terminal in Sohar, one of Oman's main industrial and maritime centres. The new facility is expected to increase cargo handling capacity, improve supply chain efficiency and strengthen connections with regional and international shipping routes.
Officials said the investment will further position Sohar as an important gateway for trade linking Asia, the Middle East, Africa and Europe.
Supporting Oman's Vision 2040 Goals
The agreement also supports Oman's Vision 2040 strategy, which focuses on diversifying the country's economy and expanding its logistics sector. The project is expected to contribute to these long-term economic development goals by improving logistics infrastructure and supporting trade growth.
Read More: Oman Proposes Voluntary Strait of Hormuz Transit Fee, US Raises Concerns
Strengthening Global Logistics Partnerships
The partnership highlights CMA CGM's continued expansion in the Gulf region while supporting Asyad's strategy to establish Oman as a competitive global logistics destination. The initiative is intended to attract international investment, develop world-class logistics infrastructure and create new opportunities for trade and industrial development.
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