Salalah to add two berths

Issued in July, the bonds are in S$250,000 (US$151,000) denominations. Three-year bonds will bear interest at the six-month Singapore dollar swap offer rate less 0.06% per annum, and 10-year bonds will earn 2.83% interest per annum, both payable semi-annually.

Salalah is to add two further berths at a cost of US$262m. Each will have alongside draught of 18 metres, but will require the additional construction of 2.85km of breakwater and 960 metres of quay. This will boost capacity by 1.76m to 4m TEUs, giving the port the ability to handle eight vessels simultaneously. Salalah Port Services Company will spend an additional US$94m on acquiring six further super post-Panamax quayside cranes as well as other yard stacking equipment. Construction will take up to two years with berth five due at the end of 2006 and berth six in 2007.