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November 15, 2016

SERKA-MSF joint venture secures $281m deal from SEZAD to develop Duqm Port in Oman

Oman’s Special Economic Zone Authority in Duqm (SEZAD) has awarded a second package contract to the joint venture (JV) of Turky’s SERKA Company and Portugal’s MSF Company to build roads, infrastructure and buildings at the commercial terminal and operational zone areas of the Port of Duqm (IP2).

Oman’s Special Economic Zone Authority in Duqm (SEZAD) has awarded a second package contract to the joint venture (JV) of Turky’s SERKA Company and Portugal’s MSF Company to build roads, infrastructure and buildings at the commercial terminal and operational zone areas of the Port of Duqm (IP2).

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Under the OMR107.3m ($281m) deal, four terminals on the commercial pier will be constructed.

The new pier will include two containers measuring around 1,600m in length and 350m in width to handle approximately 3.5 million twenty foot equivalent units (TEU) of capacity per year.

"Having the port fully operational within the stipulated time will pave the way for new investments."

A dry bulk terminal with around five million metric tonnes per year of capacity and a versatile terminal with an annual capacity of around 800 thousand metric tonnes will also be built.

In addition, the port operations area, which will feature several buildings, will be constructed under the deal.

Construction under the deal is expected to start within 30 months from the commencement date, in addition to 30 days for preliminary activities.

In a joint statement, SERKA Company and MSF Company said: “Through our journey to become the leading contractor in the Duqm Special Economic Zone that began some two years ago, we have understood the importance of Duqm for the economy of Sultanate of Oman.

“It is apparent that having the port fully operational within the stipulated time will pave the way for new investments and will transform it into a significant economic value instantly.

“Hence SERKA-MSF Joint Venture is committed to complete and deliver this vital project in a timely and a perfect manner, within budget.”

As part of the new contract, SERKA-MSF JV will provide and install traffic lights and parking lots for the commercial terminal of Duqm Port.

It will also provide portable water connections, firefighting systems, water pumping stations, street lighting, infrastructure for communications services and other solutions to the port.


Image: Deal signing between Oman’s Special Economic Zone Authority in Duqm and SERKA-MSF joint venture. Photo: courtesy of SEZAD.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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