Tuesday, July 17, 2018
Directory Directory Subscribe

Qatar, Oman set up $416 million joint venture to assemble buses


Please, enter data

Please, enter data

The Peninsula Qatar, 30 November 2017

The foundation of mega vehicle assembling unit, which is a joint venture of Mowasalat Qatar and Oman Investment Fund (OIF), will be laid today in Al Duqm Special Economic Zone, Oman.
It is a $416m joint venture between Mowasalat, Qatar’s public transport company and Oman Investment Fund (OIF). The new vehicle assembling unit will be named Karwa Automotors. The facility will assemble big buses, school buses, cars. According to Lusail newspaper, total investment for the project is $416m with 70% shares of Mowasalat and 30% of Oman Investment Authority.
The unit will have capacity to produce 2000 buses per year and create employment opportunity for 500 people directly or indirectly. It will also create benefits for 2000 people employed by related companies or industries like suppliers etc.
In the first phase, $90m will be invested in the project and the unit will have capacity to produce 1000 buses per annum and give employment to 200 people. The vehicle assembling unit spans over an area of 1 million square meters and the renewable agreement between Mowasalat and OIF is for 25 years.
The facility will include a number of supportive administrative facilities including admin offices, labour camps and test drive tracks. The factory will also have storage facility as well as showrooms. Lusail also reports that current strength of Mowasalat’s Karwa taxis is 4000 which will increase to 7000 taxis in 2020 while current fleet of 520 Karwa buses will reach to 1000 in 2020.
The agreement for establishing a bus assembly unit in Oman was signed between Oman Investment Fund (OIF) and Mowasalat, national transport company of Qatar, in 2014.
The target markets for assembled vehicles are Oman, other Gulf Cooperation Council (GCC) countries and North Africa.
The Peninsula Qatar
November 28
Login to Add Your Comment  (for subscribers) | Subscribe


Latest News

Lebanon turns to wind farms for electricity
The Daily Star, 17 July 2018

Caretaker Energy Minister Cesar Abi Khalil said on Monday that his ministry has signed an agreement with the private sector in Lebanon to buy electricity from the ...

Read full story
Lebanon turns to wind farms for electricity
Lusail Plaza towers to be completed on schedule
The Peninsula, 16 July 2018

The Lusail Plaza towers, the upcoming iconic towers in the ‘heart of Lusail City’, are expected to be completed on schedule. The developmental works on ...

Read full story
Lusail Plaza towers to be completed on schedule
Egypt explores economic program at UN forum
Egypt Today, 16 July 2018

Egypt on Monday took part in the opening session of a high-level ministerial forum of the UN Economic and Social Council, currently held in New York.

Read full story
Egypt explores economic program at UN forum
Schneider Electric showcases EcoStruxure solutions at Project Lebanon 2018
ifpinfo, 16 July 2018

Schneider Electric is a leading international company specializing in digital transformation of energy management and automation in homes, buildings, data centers, ...

Read full story
Schneider Electric showcases EcoStruxure solutions at Project Lebanon 2018
Back to Home Page 2125 --- 0 <><><> 330.16666666667.....exvideo=0....eximage=0
P -1
BR 0

Entertainment KSA
3 - September 2018
The 2nd Annual Digital Transformation Summit
17 - September 2018
Future Traffic Security
24 - September 2018
Future Civil Defense
24 - September 2018
Global Road & Traffic Safety Forum - Abu Dhabi
24 - September 2018
  View more  

Market Indecies
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%

Quick Links
  Brochures & Flyers  

Up-coming events
  Hospitality Qatar - 6 November - 8 November 2018  
  HQ - Food Qatar - 6 November - 8 November 2018  
  Project Qatar - 29 April - 1 May 2019  
IFP Group Events Calendar

Magazine sections
  Growth Markets  
  Regional Overview  
  Tips and Tricks  
  Home Finance  
  Our Meetings
  Legal Issues


IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Beirut Boat
Hospitality Qatar
HQ - Food Qatar
Project Qatar
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
IFP Group 2018 - © All rights reserved