2013-12-24 20:15:40 - New Construction research report from Business Monitor International is now available from Fast Market Research
After slow growth at 1.8% in 2012, we believe Oman's construction industry picked up in 2013 with more moderate growth at 2.2%. However, we are more optimistic over the medium-to-long term where we forecast average annual growth at 5.1% between 2014 and 2023. The country has an impressive pipeline of projects, particularly in the transport infrastructure sector, that will boost strong industry growth from 2014 onwards. This is supported by the government's US$78bn five-year (2011-2015) spending plan and investment associated with a burgeoning tourism industry. However, a potential downside to our forecast over the longer term is slower economic growth derived of declining oil revenues, which could undermine the government's ambitious infrastructure spending plans.
Key developments in the sector:
government's five-year spending plan (2011-2015) includes OMR30bn (US$78bn) of expenditure, the majority of which will be allocated to social and transport infrastructure. In addition, the government announced in October 2013 that the country will spend over US$50bn in infrastructure projects in the next 15 years. From this budget, US$20bn are earmarked to the transport sector - including Oman National Railway - which is where we see the strongest pipeline of projects.
* In April 2013, Oman International Container Terminal (OICT) started construction work on its modern terminal at the Port of Sohar in Oman. The project will increase the terminal's container handling capacity to 1.5mn twenty-foot equivalent units (TEUs) from the current 800,000TEUs. The project will entail an estimated investment of nearly OMR50mn (US$129.5mn). The second phase of the terminal's development project centring Terminal D will entail further expansion scheduled to be concluded by 2018. The completion will add further capacity of 2.5mn TEUs.
* In June 2013, it was announced that 40 companies, including major internationals, purchased the tender documents for the Diba-Lima-Khasab carriageway DBO project, confirming our long-held belief that Oman presents a great opportunity for investment. Later on, 31 companies expressed their interest to tender for the project. Major interested parties include Leighton Middle East, Strabag Oman, Kayson, Sinohydro, Hyundai Engineering & Construction, Bechtel, VINCI and Galfar.
* In August 2013, five consortia submitted technical proposals to provide project management consultancy (PMC) services for the national rail network. Interested companies include US-based consulting firm Parsons Brinckerhoff, South Korean engineering consultant Dohwa Engineering, Spanish engineering firm Tecnicas Reunidas, US-based project manager Hill International and Parsons International. Successful bidder would be responsible for the procurement of rolling stock, contract process review, supervision of construction and contract management, as well as management services. The national rail network which would be connected to the proposed GCC rail system will cover 1,061km at an estimated cost of US$15.5bn.
* In September 2013, it was announced that the government had relaunched the tenders for passenger terminal packages at Sohar and Ras Al Hadd. Oman's Ministry of Transport and Communications had reassessed the packages covering three regional airports in the country, including the one under-construction at Duqm, following a major design review. Under the review plan, design of terminal buildings at all three airports have to be renovated to improve functionality without reducing their passenger throughput capacities, estimated at 1.5mn a year.
Full Report Details at
- www.fastmr.com/prod/754614_oman_infrastructure_report_q1_2014.as ..
Report Table of Contents:
BMI Industry View
- Infrastructure SWOT
- Construction and Infrastructure Forecast Scenario
- Table: Oman Construction And Infrastructure Industry Data, 2017-2022
- Transport Infrastructure - Outlook And Overview
- Transport Infrastructure Outlook And Overview
- Major Projects Table - Transport Infrastructure
- Table: Major Projects Table - Transport Infrastructure
- Energy And Utilities Infrastructure - Outlook And Overview
- Energy & Utilities Infrastructure Outlook And Overview
- Major Projects Table - Energy & Utilities
- Table: Major Projects Table - Energy & Utilities
- Residential/NonResidential Building - Outlook And Overview
- Major Projects Table - Residential/Non-Residential Construction And Social Infrastructure
- Table: Major Projects Table - Residential/Non-Residential Construction and Social Infrastructure
Industry Risk Reward Ratings
- Oman Infrastructure Risk/Reward Ratings
- MENA - Infrastructure Risk/Reward Ratings
- Table: MENA Infrastructure Risk / Reward Ratings
- Competitive Landscape
- Table: EQS Data
- Galfar Engineering And Contracting SAOG
Global Infrastructure Overview
- Global Industry Overview
- Table: Latin America PPP Round-Up
- Industry Forecast Methodology
- Sector Specific Methodology
- Risk Reward Rating Methodology
- Sector Specific Methodology
- Table: Infrastructure Risk Reward Rating Indicators
- Table: Weighting Of Indicators
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