Karwa Motors a cornerstone in Oman Investment Authority’s diversification strategy

Karwa Motors a cornerstone in Oman Investment Authority’s diversification strategy

Muscat: Karwa Motors, Oman's first-ever bus brand and manufacturing facility, recently commenced its new state-of-the-art production facility, located in Duqm. Commenting on the operations of the facility, Dr Ibrahim Albalushi, CEO of Karwa Motors said, "This factory is a cornerstone of our commitment towards sustained economic growth for the coming decades – to set the stage for what will become the beacon of automotive and industrial progress in Oman." Karwa Motors is a success story in many ways for the diversification of Oman's economic development. It emphasises four key objectives in its business model, namely: Creating In-Country Value (ICV), Localising Global Standards and Technologies, Contributing to the Economic Development of Duqm and Oman, and Youth empowerment through direct and indirect employment in the transportation industry. Dr Ibrahim Albalushi added, "Located right here at one of the Sultanate's most prominent gateways to the world, our facility will now serve as the country's first foray into Bus production. With our technology transfer partners, we aim to introduce several innovations and industry-leading production practices and technologies to Oman, setting the benchmark for all future production facilities to come." The new facility is built on a site covering approximately 600, 000 square metres and