Events
Duane Morris Partner Jeffrey Rodwell to Explore "At the Crossroads of Global Shipping: Investment, Logistics, & Manufacturing Opportunities Under the U.S.-Oman FTA"
July 3, 2013 | Conference Call
Duane Morris partner Jeffrey Rodwell will discuss "At the Crossroads of Global Shipping: Logistics & Manufacturing Opportunities Under the U.S.-Oman FTA" at a U.S. Department of State conference call on Wednesday, July 3, at 11:30 a.m. Eastern time and 7:30 p.m. in Muscat.
Oman's estimated $7 billion per year in infrastructure spending over the last decade has been focused on the three main ports of Sohar, Duqm, and Salalah, helping Oman in achieving its "Vision 2020" goals of economic diversification and job creation, and at the same time, equipping the Sultanate to serve as a global shipping and logistics hub. Duqm is a new city established in the interior of Oman featuring a new port; roads; flood protection dams and breakwaters; naval base; drydock; a $120M fisheries hub; industrial free zone; hotels; power and desalination plants; a $6B, 230,000 barrels-per-day refinery; a $480M pipeline from interior oil fields; and an oil tank storage farm. Sohar has been at the forefront of Oman's downstream manufacturing boom, featuring a free zone made up of aluminum, steel, plastics, petrochemicals, sulfur and fertilizer industries. Oman's largest oil refinery also resides there, and is in the process of a $1.5B expansion. Salalah is attracting international attention for its prime location at the crossroads of east-west shipping and fast growth. When Oman's new $15B railway is complete (a 20-year project), connecting to the GCC network, shippers will be able to avoid the risky, costly Straits of Hormuz, simply dropping regional cargo at Salalah for onward multi-modal transit via rail, air and local shipping.
The United States and Oman maintain close and growing economic and commercial ties, enhanced by a Free Trade Agreement (FTA) in place since 2009, a reflection of the belief that Oman's strategic location, top-notch infrastructure and friendly environment make it a good place for U.S. companies to do business. Bilateral trade volume has grown by more than 50 percent since the FTA was implemented, from $2.2 billion in 2008 to $3.1 billion in 2012.
Greta Holtz, U.S. Ambassador to Oman, will host the call, which will explore the myriad investment opportunities available in Oman's ports and free zones.
To learn more, or to register, please visit the U.S. Department of State event page.
