Indian contracting giant Larsen & Toubro has been awarded a $49.3m contract to build a new university in Oman.
The contractor's Oman unit will build phase one of Al Buraimi University within 20 months as part of the contract agreement.
The deal was signed by Dr Abdullah bin Mohammed al-Sarmi, Undersecretary of the Ministry of Higher Education and acting chairman of Al Buraimi University and the CEO of Larsen & Tubro Oman, Oman News Agency reported.
Sayyid Ibrahim bin Saud al-Busaidi, governor of Al Buraimi, said that the university will be an "important addition to the culture of the sultanate in general and to education infrastructure in the governorate in particular".
He added that the university will be built on about 1.1 million sq m and its design will be "in line with the history and culture of the Al Buraimi Oasis".
Al-Sarmi said that the campus will include buildings for administration, teaching staff, three colleges, laboratories and foundation programme.
Currently, the Oman government spends an estimated $3.5bn annually on education alone and allocates around 12-14 percent of its yearly budgeted expenditure to the education sector.
Last August it was announced that new international schools are set to be established in Oman as part of a new joint venture project with a global education company.
CORE Education & Technologies said it has inked the joint venture agreement with Muscat Overseas Company through its Middle East-based subsidiary, CORE Education & Consulting Solutions.
The 50:50 joint venture will seek to develop a world-class education environment in the Sultanate of Oman.
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