Consolidated Contractors Company (CCC) Oman is likely to win a general contract for Omagine, a $2.5-billion mixed-use tourism and real-estate project to be developed on a 1-million sq m beachfront in Seeb, Oman, said a report..

The Oman-based subsidiary of US-based Omagine is likely to finalise an agreement in this regard by the end of the month.

"Subject to the approval of shareholders and negotiating and agreeing to the CCC Oman contract, Omagine presently intends to hire CCC Oman as the general contractor for the construction of Omagine project," said Omagine in its quarterly report submitted to the US Securities and Exchange Commission (SEC).

The company presently expects that the CCC Oman contract will be finalised and approved by Omagine shareholders before December 31, 2014,” it stated.

“CCC Oman is experienced in all aspects of the construction business and regularly constructs large-scale projects of the magnitude of the Omagine Project,” the report added.

CCC Oman, a leading construction company in the sultanate, also holds a five per cent stake in Omagine.