Salalah Port Services Company SAOG said in a disclosure to Oman’s Muscat Stock Exchange S.A.O.C (MSX) that it had received formal notification from the Ministry of Transport, Communications and Information Technology, confirming that the existing concession agreements will not be extended beyond their contractual expiry date of 1 November 2028.
The notification further states that the decision not to extend the concession agreements is “final and unconditional.”
The board of directors will consider the notification and assess its implications and potential impact on the company, the disclosure said on October 18.
Salalah Port Services Company said it would engage with relevant stakeholders and keep the market updated on any material developments in accordance with applicable disclosure requirements.
Oman’s ministry of transport, communications and information technology (MTCIT) affirmed on October 18 that port operations and development activities will continue throughout this period.
In a notice, the ministry said: “In line with the Ministry’s commitment to the expansion and development of the Port of Salalah and the continuity of port operations, and following the disclosure issued by Salalah Port Services Company SAOG confirming that it will continue to operate the port until 1 November 2028 in accordance with the existing concession agreement, the Ministry and the relevant authorities reaffirm that port operations and development activities will continue throughout this period.”
“The new operator that will take over the port’s operations following the expiry of the aforementioned agreement will be announced in due course.”
