The Omani government has transferred its 20.085 per cent stake in the Salalah Port to Oman Global Logistics Group (OGL), a holding company fully owned by the Ministry of Finance, said a report.

The operator made the announcement recently in a filing to the Capital Market Authority (CMA), according to the Oman Daily Observer.

The group was set up in June as a holding company to invest in ports, free zones, railway, maritime and land transport companies.

As the government’s logistics development arm, the OGL’s primary remit is to generate optimum returns to the government on investments in this sector, stated the report.

The group’s mandate is to implement the National Logistics Strategy 2040, which is designed to activate the potential of the private sector in nurturing logistics through joint investments and innovation, as well as developing national capacity in order the unleash employment opportunities, added the report.