Qatar, Oman set up $416m joint venture to assemble buses - The Peninsula Qatar

Qatar, Oman set up $416m joint venture to assemble buses - The Peninsula Qatar:

"The foundation of mega vehicle assembling unit, which is a joint venture of Mowasalat Qatar and Oman Investment Fund (OIF), will be laid today in Al Duqm Special Economic Zone, Oman. It is a $416m joint venture between Mowasalat, Qatar’s public transport company and Oman Investment Fund (OIF). The new vehicle assembling unit will be named Karwa Automotors. The facility will assemble big buses, school buses, cars. According to Lusail newspaper, total investment for the project is $416m with 70% shares of Mowasalat and 30% of Oman Investment Authority. The unit will have capacity to produce 2000 buses per year and create employment opportunity for 500 people directly or indirectly. It will also create benefits for 2000 people employed by related companies or industries like suppliers etc."



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