Oman: Iran’s best friend in the Gulf | beyondbrics:
"The sultanate of Oman appears set to play a key role in Iran’s efforts to reintegrate into the regional and global economy. While other Middle Eastern states kept their distance during Iran’s years of isolation, Oman stuck with its longtime trading partner and is now set to reap the benefits, as the two countries move ahead with large-scale joint economic initiatives.
A long-planned $60bn undersea gas pipeline project has been given fresh impetus since sanctions on Iran were lifted earlier this year. The Korea Gas Corporation, a partly state-owned South Korean energy company, is reported to be nearing an agreement to build pipelines that will pump 20m cubic metres of Iranian gas a day to Oman, where it will be converted into Liquefied Natural Gas for international export.
Plans for another major bilateral project are coming to fruition. An ongoing feasibility study for the construction of a car manufacturing hub in the Omani port of Duqm is likely to be concluded this month. The plant, a $200m joint venture with the Khodro Industrial Group, the region’s largest automobile manufacturer, is expected to produce 20,000 cars within two years. Production is set to begin next year, with the bulk of output destined for neighbouring markets including Yemen, Sudan and Ethiopia."
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