The following was a feature article published by the Oman Daily Observer issue of

Business Today

About Business Today:

THE Oman Daily Observer is the largest circulated English-language daily in the Sultanate. Launched in November 1981, the Observer is the flagship newspaper (alongside its Arabic sister daily Oman) of Oman Establishment for Press, Publication & Advertising (OEPPA), the biggest media house in the country.

The paper is widely regarded as a quality daily that provides readers with up-to-date information on local, national, regional and international news covering current affairs, business and sports, as well as offers a diverse choice of features and articles on the arts, leisure, lifestyle, entertainment, and technology, among other areas. Its readers include Omanis and expatriates alike, and is particularly admired by the business community. The paper’s online edition is also popular with online readers, travelling businesspersons, and non-resident readers who take a keen interest in Oman’s affairs.

Indeed, the Observer strives to mirror Oman’s modernisation and progress across all aspects of national life. The country’s natural, historical, cultural and tourism wealth is strongly highlighted, as are initiatives in information communications technology (ICT), infrastructure development, economic diversification, privatization, higher education, and women and child affairs, among other areas.

Complementing the paper’s experienced reporting and production staff are correspondents and contributors in a number of major cities around the world who provide high quality coverage of events in their respective regions. The paper also subscribes to leading international news agencies and syndication services, which are a significant source of superior news articles, features and columns.

ONLINE EDITION:

With a view to providing easy access to online readers, the Internet edition of the Observer was launched on 18th November 1997, coinciding with the 27th National Day celebrations. The site is regularly updated. It also has complete and comprehensive archival material for present and future reference.

These publications and services, while strengthening OEPPA’s leadership position in the media industry in Oman, further add to the organisation’s stable of long-established periodicals, such as Nizwa, which is published in Arabic.

Located at Madinat al Ilam (Information City) in Qurum, OEPPA continues to grow from strength to strength as it seeks newer opportunities and avenues to reach out to its ever-widening customer base

Business news ____________________________________...

Consolidated Contractors wins multi-million dollar Omagine contract

By Our Business Reporter

MUSCAT — Omagine Inc, the majority owner of the proposed multi-million-Omagine project, has announced the general contractor which will lead the construction of the 300-acre residential and entertainment complex planned near Muscat. Consolidated Contractors Company Oman (CCC), which is the Omani subsidiary of Consolidated Contractors Group SAL, will be responsible for all construction activities for the company’s Omagine project, said a company statement.

Consolidated Contractors Group SAL (CCG) is a worldwide organisation with $5 billion in revenue and employs approximately 125,000 people. The announcement is the second in a series of major events anticipated in the next few weeks, culminating in the final step needed to begin construction. “With CCC, we have a contractor with a very strong reputation, a successful history of high-quality construction — on time and within budget — and a very active presence in Oman,” said Frank J Drohan, President of the company and of its subsidiary Journey of Light (JOL), which is the majority owner of the project.

Drohan said that an investment arm of CCG and another Omani financial investor will each become minority equity shareholders of Omagine SAOC, the company that is currently being formed in Oman by JOL to build, own and operate the Omagine project. The company — through its 100 per cent ownership of JOL — will own 70 per cent of the project company’s equity. “We identified CCG early on as a potential partner who could handle the scope of this development and the rapid nature in which it is unfolding,” Drohan said.

“They can mobilise the very substantial manpower and equipment resources required almost immediately and they have the capability to execute high quality work quickly and efficiently. We are proud to be working closely with one of the most prominent contractors in the Middle East to bring to life one of the most forward-looking projects in this region today.”

The company’s planned Omagine project is an integration of cultural, heritage, educational, entertainment and residential components. As presently planned, Omagine will be located on 1.2 million square meters of beachfront land facing the Gulf of Oman just west Muscat. The Omagine project also includes the construction and sale of approximately 3,300 residential housing units including luxury villas, townhouses and apartments in addition to 450 serviced apartments and 150 employee apartments. The project is expected to take between 4 to 5 years to complete.