Port Services term to manage Muscat port

The Ministry of Transport and Communications has decided to extend the Port Services Corporation,s (PSC) concession agreement for managing and operating Port Sultan Qaboos for an interim period of one year from January 1, 2013 to December 31, 2013 on the same conditions of the current concession agreement. However, the finalisation of the legal formalities of the extension, are now underway, said Saud bin Ahmed Al Nahari, chief executive of Port Services Corporation in a statement posted on the Muscat Securities Market website. The Port Services Corporation earlier said that it received a request from the Ministry of Transport and Communications to manage and operate Port of Khassab in Musandam governorate. The corporation has taken the required immediate actions to carry out this task on trial basis for a specified period while simultaneously conducting an economic and financial feasibility study to assess the managing and operating the port on permanent basis and mechanism for such management in addition to any requirements for developing the port\'s infrastructure and its expansion plan. Times Of Oman