Salalah Enterprises
Final Financial Feasibility
Project for setting up steel rolling mill

The Steel Industry in Oman
Oman

Oman’s economy witnessed a period of cumulative growth during 2007. Sound fiscal and monetary policies and the resultant surpluses have helped the policy makers to reduce the public debt from 16.3% of GDP in 2002 to 8.2% in 2006 and also to play a pivotal role in revamping the infrastructure in the Sultanate. The economy registered a year on year growth of 13.1% in its nominal GDP reaching RO 15.5 billion in 2007.

Though the Omani GDP growth rate is slower than the previous years in absolute terms the growth rate is yet high compared to Middle East emerging economies. Increasing focus on non-oil sectors for future growth is playing an important role in driving the GDP growth. In 2006, it registered an increase of 15.6% in its nominal GDP to reach RO 13.7 billion for the year. Whilst the oil sector accounted for 45.3% of the Sultanate’s in 2007, the non-oil sectors also were the engines of growth during the period. The non oil sector contributed about 14.3% of the nominal GDP whilst the services sector share was 39% in 2007.