Oman’s Ministry of Agriculture and Fisheries recently signed a contract for the development of a fishing port in the Wilayat of Barka with Falcon Tourism Investment Company, said a report.

The port, expected to cost more than OR40 million ($103.91 million), will be constructed on a 130,000-sq-m plot of land, added the Oman Daily Observer report.

The contract will be valid for 50 years with a five-year grace period, it said.

The contract was signed by Dr Fuad bin Jaafar Al Sajwani, Minister of Agriculture and Fisheries, and Salim bin Nasser Al Siyabi, chairman of the board of directors of Falcon Tourism Investment Company.

Dr Sajwani said the government is seeking, through this project and other projects, to reinvigorate public-private partnership.

He added that this venture is an integrated service and investment project, the infrastructure of which has been completed by the government, while the company will construct, own and manage the commercial, services and investment facilities.