Oman's Asyad Group and France's CMA CGM Group have signed a framework agreement to develop, manage and operate a multipurpose logistics terminal in Sohar, establishing a strategic partnership aimed at boosting maritime connectivity and opening new regional trade corridors.
The agreement, signed during the official visit of Sultan Haitham bin Tarik to France, provides the framework for the development of a new $400 million multipurpose logistics terminal in Sohar.
The companies said the project would enhance integrated logistics services and supply chain solutions, reinforce regional and international trade corridors, increase cargo handling volumes and strengthen Omani ports' links to global shipping networks and international markets.
The partnership combines the capabilities of the two companies to enhance Oman's ports as global trade hubs, improve operational efficiency and provide services to customers across the region.
"This partnership reflects Asyad Group's vision of building strategic collaborations with major global companies to enhance the commercial attractiveness of Omani ports and maximize the economic value of their assets.
“This cooperation will open new horizons for attracting trade flows and quality investments to ports, and free and economic zones, and strengthening Oman's position in global supply chains, in support of the Sultanate's objectives to establish its position as a pivotal center for trade and logistics services at the international level," said Abdulrahman Al Hatmi, Group CEO of Asyad Group.
"This partnership with Asyad Group marks an important step in the development of our logistics and port activities in the Gulf. By developing a new logistics terminal at Sohar, we will strengthen regional connectivity while securing reliable inland access to key trade corridors. It will ensure greater resilience and efficiency for our customers' supply chains.
“It also reflects our confidence in Oman’s long-term vision and our commitment to strengthening its position as a strategic gateway connecting the Gulf to global markets," added Rodolphe Saadé, Chairman and CEO of CMA CGM Group.
Asyad Group operates a logistics network spanning more than 76 cities in 24 countries and manages a maritime fleet of more than 100 vessels serving more than 90 destinations and connecting over 200 commercial ports worldwide.
