Oman Infrastructure Report Q4 2015 - New Study Released

Oman's government commitment to infrastructure development will allow project activity to remain strong , despite a moderati on in the pace of construction industry growth. Addressing the weaknesses in the labour market that affect the construction sector will be instrumental in securing Oman's successful adjustment to the new oil price environment.

Key Trends And Developments

Oman's economy is highly dependent on hydrocarbons, but revenue from oil and gas have started to decline. The weakening in hydrocarbons revenue is a structural problem that will weaken the government's capacity to invest in infrastructure projects.

We forecast gross fixed capital formation (GFCF) to average 5.8% in the next five years , compared to the 7.9% in the last five years. This difference reflects our more moderate construction industry growth forecast in the short term, on the back of weak oil prices.

Full Report Details at
- http://www.fastmr.com/prod/1044820_oman_infrastructure_report_q4.aspx?afid=301

In addition to the government's USD78bn five-year (2011-2015) spending plan, the government announced in October 2013 that the country will spend over USD50bn in infrastructure projects over the next 15 years. From this budget, USD20bn is earmarked for the transport sector - including Oman National Railway - which is where we see the strongest pipeline of projects.

We expect Oman's transport infrastructure sector to continue experiencing a significant expansion over our 10-year forecast, particularly surrounding the development of the country's road and railway network. Spending allocations for new road ventures in Oman were set at OMR1.7bn (USD4.4bn) as part of the wider government five-year spending plan (2011-2015) and as such has enjoyed considerable activity over the past few years.

The Omani government has earmarked tourism as one of the key sectors that will drive its economic diversification strategy. To this end, the government established OMRAN - a company to deliver major tourism projects, and manage assets and investment in the sector.

The Oman Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Oman Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Omani infrastructure and construction industry.

Key Benefits

* Benchmark BMI's independent infrastructure industry forecasts for Oman

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