Oman is poised for phenomenal growth in next five years and the country’s landscape will change like it did in the early 1980s, according to a top businessman.
“We saw tremendous infrastructure growth in early 1980s, including major road networks,” said Pankaj Khimji, director of Khimji Ramdas. “We will see similar growth in the next five years as the core business activities will grow beyond Muscat in coming years.”
Khimji was talking on the sidelines of a function launching the company’s new insurance business. He said the wheels of development were already in motion with commercial port activities to be moved from Muscat to Sohar. “With the railways being planned, the time is not far when Birka, 100km north of Muscat, becomes the hub of business as well as industrial activities in the country,” he said. Qaboos Port in Muscat will become a cruise ship terminal.
Oman is planning an ambitious 1,061km railway project. The line will be connected to the UAE via the Khatmat Milaha border point that links Sohar to Fujairah.
The plan includes sub-stations at Buraimi, Sohar Industrial Port, the central train station in Muscat, near Muscat International, and Ibra. The line will also connect Buraimi and Al Ain to Sohar, Sohar to Muscat, and Muscat to Duqum.
Future challenges
Khimji said Khimji Ramdas was gearing up to meet future challenges and the new insurance division was a step in that direction. “We are aiming to give customers a one window solution through our logistics division,” he said. “The new insurance division will have the capability to surpass client expectations in this line of business. “As a part of our strategic vision, we are developing local talent capable of taking leadership responsibilities in the future. We will aim to effectively contribute to the growth of the insurance industry and also become a preferred place to work.”
M.C. Jose, CEO of projects and logistics at Khimji Ramdas, said: “With insurance added to the portfolio, we are proud to offer all transport related services with Khimji Ramdas.
Suresh S., divisional manager of the new insurance wing, added: “Our endeavour will be to ensure that our services are available to our customers at the time and place where they are most needed. He added that the core business would offer professional risk management services.
