Oman to study of restoring Malindi tourist port in Zanzibar: OIA

Muscat: The Oman Investment Authority (OIA) has signed a memorandum of understanding (MoU) with the Government of Zanzibar to explore the feasibility of rehabilitating, developing and restoring the Malindi tourist port and improving its waterfront, as well as transfer of commercial activities from the current port to the new port of Mangapwani.

In a statement Oman Investment Authority said: In an effort to diversify our international investment portfolio, OIA has signed an MoU with the Government of Zanzibar to study the feasibility of restoring the Malindi port, improving its waterfront, and moving commercial activity to a new port.

Through this, we aim to enhance Oman’s gain from the Belt and Road Initiative passing through Asian and African ports, and building on historical relations between Oman and East Africa by exploring investment opportunities that will benefit local sectors via OIA companies. OIA said.

Sami bin Abdullah Al-Sinani, Senior Director of Logistics and Infrastructure Services at the Oman Investment Authority, said in a statement to the Oman News Agency that the memorandum of understanding aims to optimize the beneficial impacts for the Sultanate of Oman from the Belt and Road Initiative (BRI), which links a number of  ports in Asia and Africa, and to build on the historical Omani relations with East Africa is one of the most economically promising areas.

He added that the memorandum holds investment opportunities that will contribute to the transfer of expertise available to the Authority and its subsidiaries in order to expand the management of international projects, and to enter into partnerships with investors and international companies that have expertise that can be benefited from by transferring expertise to the projects of the companies affiliated to the Authority locally.