Asyad Group, Oman’s flagship integrated logistics provider, has announced momentous operational growth in the Sultanate's free zones and major ports of Salalah, Sohar and Duqm during 2022.
The ports achieved a combined growth of 8% and handled over 62.3 million tons of general cargo, an increase of 10% from the previous year. In addition to the impressive general cargo handling performance, the ports' liquid cargo climbed by 22% from 2021 to more than 23.7 million tons, with almost 5.2 million TEUs handled. The ports also handled more than 1.59 million head of livestock and 71.7 thousand vehicles and equipment and received over 6,500 ships.
In tandem with their exceptional combined performance in 2022, Oman’s ports and free zones showcased monumental individual performance, reflecting Asyad Group’s success in developing a world-class integrated logistics network through facilities that meet the highest international standards of operational efficiency.
Salalah Port, recognized as the world's second-most efficient container port according to the World Bank's ‘Container Port Performance Index 2021’ report, achieved a record-breaking daily handling of 1,157 containers. Furthermore, in keeping with Asyad Group’s ambitious expansion strategies, the port reinforced its operational capabilities to meet rising global demand by introducing 16 gantry cranes and 3 mobile jib cranes to its general cargo dock and inaugurating the development of the container terminal in Q4 of 2022. Salalah Port also established a new shipping line directly linking China and Yemen through Al-Mazyona border crossing and signed a global strategic partnership to add bunkering to its list of first-rate services, setting itself up as the region’s bunkering destination of choice for vessel operators.
In a clear reflection of Asyad Group’s success in operational integration, 2022 featured Sohar Port welcoming the first batch of containers transported via Asyad Line from Singaporean and Malaysian ports, reaching a 100% occupancy rate and anticipating a yearly occupancy volume of up to 100,000 TEU through this express line alone. Furthermore, Sohar Port launched a direct line passing through the ports of Saudi Arabia, Egypt, Libya and Greece, in cooperation with CMA CGM and Hutchison Ports. Reinforcing its role as a vital maritime gateway for the industrial sector in Oman, Sohar Port also continued to move forward with its expansion plans by signing agreements to expand storage facilities with C. Steinweg Oman and extend the oil storage terminal operation contract with Advario.
Moreover, 2022 marked the official inauguration of the Port of Duqm during a prestigious international ceremony in February. Since then, the port began receiving and operating heavy logistics plan and equipment, including mobile gantry cranes and cargo unloading cranes. Additionally, the port signed a USD 3 billion agreement with Jindal Shadeed to build a green iron production factory on an area of 2 square kilometers and penned a reservation agreement in collaboration with Mitsui & Co. and Kobe Steel to develop a low-carbon dioxide emission ferrous metals project.
On the level of free zones, Asyad Group’s Salalah Free Zone, Sohar Free Zone and Khazaen Economic City managed to attract over OMR 600 million in committed investments in 2022, showcasing the Group’s successful strategy of attracting international investment and cementing Oman’s status as a secure and reliable global investment hub.
Salalah Free Zone inaugurated two mega-projects in early 2023, OQ’s ammonia production factory and the Felix Pharmaceutical factory, both showcasing world-class logistics and production capabilities. In Sohar, the volume of trade exchange exceeded OMR 1 billion, while Khazaen Economic City began construction of the Central Fruit and Vegetable Market, scheduled to open in 2024.
Ahmed Al Bulushi the Group Chief Asset Management Officer at Asyad, praised the outstanding performance of Oman’s ports and free zones, stating: "Asyad's strategy to grow and develop the logistics sector in Oman led to an exceptional performance of the Group’s ports and free zones throughout 2022. Despite the unprecedented challenges that strained the global supply chain, we were able to improve our resource management and optimize operational integration between our business units by capitalizing on our maritime assets, including ports, freezones and economic cities, and Oman’s unique geographic location.”
“As part of our efforts to enhance Oman’s connectivity with the world’s major markets, we managed to leverage our ports, free zones and economic cities to take advantage of global challenges, establishing novel maritime lines and attracting foreign direct investments,” Al Balushi added.
Asyad Group continues to successfully deliver on its strategy to reinforce its business units and bolster its integrated logistics offerings, encouraged by the outstanding performance of its ports, free zones, and economic cities in 2022. Fulfilling its role as a trusted global logistics partner and the main driver behind national economic growth, Asyad Group forges ahead in its commitment to affirming Oman’s standing as a global logistics hub and ideal investment destination.
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