Karwa Motors to Expand Manufacturing Operations for Armoured Vehicles in Oman’s Duqm
Karwa Motors, a subsidiary of the Oman Investment Authority, has signed a significant cooperation and manufacturing services agreement with Taj Duqm Company. The agreement outlines Karwa Motors’ plans to transfer its manufacturing operations for armored vehicles to the Special Economic Zone at Duqm, Oman.
Diversifying Production and Strengthening Local Industry
Dr. Ibrahim Al Balushi, CEO of Karwa Motors, emphasized that this agreement is part of the company’s broader strategy to diversify its production lines and leverage its manufacturing capabilities. He noted that it reflects Karwa Motors’ commitment to bolstering the local industry, expanding into regional and international markets, and driving commercial activity within the Duqm Special Economic Zone.
He also commended the Public Authority for Special Economic Zones and Free Zones for its role in attracting investments and supporting the success of the region. Additionally, he acknowledged the Oman Investment Authority and Qatar Transport Company for their support in advancing Karwa Motors’ strategy to strengthen the vehicle manufacturing sector in Oman and the wider region.
Enhancing Economic Growth and Localization
Tariq Al-Humaidani, CEO of Taj Duqm, highlighted the achievements of Karwa Motors over the past two years as a motivating factor for the transfer of vehicle manufacturing operations. He expects that this agreement will boost the performance of both companies, align with their aspirations, and contribute to increased investments in the Duqm Special Economic Zone, benefiting investors in both entities.
Karwa Motors, a joint venture between the State of Qatar and the Sultanate of Oman, is set to establish a new production line dedicated to manufacturing armored vehicles. This expansion will leverage the company’s existing capabilities and equipment.
Karwa Motors is known for its bus manufacturing, producing an average of approximately 600 buses annually. The company’s factory, which commenced production in 2021, has a strong focus on manufacturing buses for the 2022 Qatar World Cup. Their product range includes city buses, school buses, long-distance vehicles, and luxury buses. The factory is located in the Special Economic Zone in Duqm and boasts state-of-the-art technologies and a range of production workshops, maintenance facilities, warehouses, administration buildings, and more.
This agreement between Karwa Motors and Taj Duqm signifies a strategic move to expand the manufacturing sector in Oman and contribute to the economic development of the region.
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