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From Trade Arabia -

South Korea's Daewoo Shipbuilding and Marine Engineering has won a 10-year contract to manage a ship-repair yard in Oman, the ONA official news agency said.

It said officials from the Omani government and the company signed an agreement over the running of the yard, which is part of a harbour Oman is developing at Duqm on its southeast coast at a cost of a $400 million.

'The management agreement is for 10 years, with an option to renew it for another 10,' said a company official in Muscat.

Oman Dry Dock will fund the yard, which is to be ready in 2009.

Oman has invited companies to bid for contracts to build breakwaters, quays and other facilities for the harbour

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