Oman spends OMR67.1 billion on 1,100 projects

Business Saturday 16/July/2016 13:54 PM
By: Times News Service
Oman spends OMR67.1 billion on 1,100 projects

Muscat: During the 8th five-year plan (2011-2015), the Sultanate had managed to implement more than 1,100 projects, that were awarded through the Tender Board, at a cost of about OMR67 billion. It also implemented a number of other projects that were awarded through the different governmental units.
During the 8th five-year plan, the Sultanate managed to utilise oil revenues in completing the major strategic project in ports, airports, roads and other sectors to achieve the citizens' aspirations towards education, health, housing, electricity, water, communication and other sectors. It also implemented some projects that prepare the national economy for further growth and for more reliance on non-oil revenues.
The statistics compiled by ONA point out that the total revenues during the 8th five-year plan stood at about OMR61.5 billion and that the total public expenditure stood at OMR67.1 billion.
The oil revenues contributed by OMR44.2 billion or 71.9 per cent of the total revenues. Gas revenues amounted to OMR7.4 billion compared to OMR1.9 billion from income tax, OMR1.1 billion from custom duties, OMR90.6 million from capitals and OMR6.7 from other revenues.
During the 9th five-year plan (2016-2020), the Sultanate seeks to increase oil revenues by focusing on five main sectors, namely the manufacturing industries, logistic services, transport, tourism, fisheries and mining.
The share of current expenditure stood at OMR42.4 billion or 63.1 per cent of the total public expenditure compared to OMR15.8 billion for investment expenses, contributions to local and foreign organizations, oil, electricity and basic commodities subsidy, as well as OMR8.8 billion for other programmes.
During the 8th five-year plan, a number of major project, for which work was initiated during the 7th five-year plan, were completed including Al Batinah Southern Expressway at a cost of OMR796 million.
During the 8th five year plan, work was initiated at the first and second stage of Sur-Bidbid road at a cost of OMR432.5 million. A number of major projects were also awarded to complete Muscat International Airport and Salalah Airport projects.
The most notable projects that were awarded at Special Economic Zone in Duqm (SEZD) includes the additional work for the marine works at Duqm Port at a cost of OMR192.7 million and the first stage of the infrastructure for Duqm Port at a cost of OMR81 million. At Salalah Port, an additional berth has been built at the general cargo terminal and liquid berth at a cost of OMR55 million.
During the plan, the Sultanate has implemented a number of programs in education and the development of Omani youths' capabilities, including the expansion in the internal and external scholarship programme. It also implemented an HRD programme for specialised post graduate studies at a cost of OMR100 million (1000 grants).