Tuesday, 12 May 2009

Oman gives boost to construction

Oman's Economy Ministry awarded OMR 598mn (USD 1.55bn) in construction and infrastructure projects including the Muscat International Airport and the Al Duqm Master Plan. The plan will stimulate growth by 11%. This move underlys one of our observations in the region; namely that infrastructure spend will decouple the construction industry from the global cycle.

Oil and gas continues to contribute 45% to the national GDP.

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