A consortium comprising Oman Investment Corporation (OIC) and the UK-based Ultra Electronics won a RO127.5 million ($331 million) systems integration project at the Muscat and Salalah airports.

OIC said the duo will establish a new company 'Ultra Middle East' based in Oman to execute and manage the project.

The scope of the contract covers the supply of all electronic infrastructure, including installing Ultra’s airport IT systems, IT networks, communications and security systems at both airports.

Muscat and Salalah airports are being developed to be capable of handling 48 and 10 million passengers per year, respectively. The development of these airports has been commissioned by the Omani Ministry of Transport & Communications.

OIC will have 30% shareholding in the new venture, said Kalat G Al Bulooshi, Chief Executive Officer of OIC.

“We are creating an Omani business which will enable the execution of the airport project and similar long term operations and maintenance support for this project as well as for projects in other GCC countries. We will be creating a new value added company utilizing high caliber Omani human resources,” he added.

Ultra Electronics, he said, was an internationally successful defense, security, transport and energy company with a long, consistent track record of development and growth.

Al Bulooshi said this new Ultra partnership will transfer know-how and technology to Oman while creating around 450 jobs during the project execution phase and award around 50% of the contract value (RO 50 million) to local Omani companies.