Oman’s Ministry of Transport, Communications and Information Technology will not extend Salalah Port Services Company’s concession to run the Port of Salalah beyond its contractual expiry date of November 1, 2028, the Muscat-listed company said on October 18.
The company said in a stock exchange disclosure that it had received formal notification of the decision from the ministry.
The notification states that the decision not to extend the concession agreements is final and unconditional, according to the disclosure, which was signed by Chairman Braik Musallam Al Amri.
The board will consider the notification and assess its implications and potential impact on the company, the disclosure said.
Salalah Port Services said it would engage with relevant stakeholders and keep the market updated on any material developments.
The ministry said in a separate notice that the company will continue to operate the port under the existing agreement until November 1, 2028.
Port operations and development work will continue throughout that period, the ministry said. It added that it remains committed to expanding and developing the port.
The new operator that will take over after the agreement expires will be announced in due course, the ministry said, according to the Oman Observer. It did not name a successor or give a timetable.
The Port of Salalah is in Oman’s southern Dhofar governorate, on the Arabian Sea.
