Project tenders issued by Oman jumped by more than 50 pct in 2024 as the Gulf state is using a surge in oil prices to increase development spending.
Awarded projects have also recorded a sharp rise over the past few years and they covered infrastructure, transport and other sectors, according to the Oman Tender Board (OTB), the country’s top tendering authority.
Figures by OTB Secretary General Badr Al-Maamari showed the value of tenders issued by the Board in 2024 totaled around USD 3.9 bln, up by nearly 61 pct over 2023, when it stood at USD 2.4 bln.
His figures also showed awarded projects climbed to one of their highest levels of around USD 5.2 bln in 2023, far above the 2021 project value of USD 1.3 bln in 2021.
“Development projects tendered and awarded to local and foreign companies have recorded large growth over the past few years,” Maamari said.
He said infrastructure and services accounted for nearly 44 pct of the 2024 project tenders while the health and transport sectors amounted to 20 pct each.
