Omasco plans to open a 5-million rial automotive facility in Seeb to meet the growing demand for sales and service of vehicles in that area.
The company is the distributor for Honda vehicles in the Sultanate.
Speaking to Oman Tribune recently, Managing Director Hussain Al Lawati said: “We are looking at putting up a sales, service and parts facility for the automotive business, and it will be spread over 12,000sqm in the Seeb area. It will cater to four residential areas. The investment is around 5 million rials and will be backed up with the company’s services throughout Oman. Ground work on the facility will begin this year and doors will open in 2018-end.”
Omasco also has distribution rights for other brands like, Toyo, GE, Black & Decker and Yamaha.
Al Lawati said a positive sentiment was returning to the market with the recovery in oil prices and his company grew in double digits in 2016, higher than the single digit growth in 2015.
He said there was good recovery in some verticals like automotive, where there was demand from businesses and for cooling systems, as government-funded projects continued to make progress.
The year 2016 had been a good year for the company from a turnover point of view, he said, adding that the company had worked to bring down operational costs and introduced new brands in cooling systems and electrical hardware.
Al Lawati said the company would benefit indirectly from the implementation of the Tanfeedh programme of economic diversification focused on sectors like manufacturing, tourism and logistics. As tourism industry expands there would be a greater requirement for cars through the rent-a-car companies and that was good for the automotive business.
The company had also introduced the latest solar panels from Panasonic, as the summer approaches and the government was encouraging use of renewable sources of energy, said Al Lawati. Initially, the market would be corporates but gradually individual villas could start installing them, he added.