A formal announcement on the formation of the joint venture (JV) vehicle assembly plant in Oman being set up by Mowasalat and Oman Investment Fund (OIF) will be made next month.
This was announced at a meeting between Mowasalat and OIF held recently in Doha, where the viability of the project was reviewed.
According to Mowasalat, a delegation from the Qatari company and its partners will visit Oman and the announcement on the proposed joint venture - Karwa Motors - would be made there.
The transport firm said that it had won the ‘Middle East Leading Projects Award’ for the vehicle assembly plant in Oman as part of the “Grow with Public Transport International Campaign 2013”. The Qatari company was recently honoured at the International Union of Public Transport (UITP) Congress in Geneva for its commitment to improving the public transport.
On winning the award Mowasalat chairman and managing director Jassim Saif al-Sulaiti said the UITP award was an honour for Qatar in recognition of strides made to the cause of sustainable development, covering such vital issues as safety and green initiatives.
On the alliance with OIF, al-Sulaiti said associating with a dedicated partner as OIF itself is an outstanding achievement and it showed the commitment of two regional firms to improving public transport and helping implement sustainable mobility in the region.
The Mowasalat chairman also termed the coming together of the two companies as “the embodiment of our wise leadership’s vision to proceed further with creative investments that benefit the community and build up capacities in knowledge embodiment and technology transfer”.