2

HASAN JUMA BACKER GROUP

Economic Diversification: Challenges & Opportunities 46 Years of Blessed Omani Renaissance 3

Key HJB sta� with former Indian ambassador Economic diversi�cation is vital to Oman’s long-term economic growth, and it is not advisable to remain

heavily reliant on revenues generated by oil production alone. Investments should be made to make sure that all economic sectors grow simultaneously, which Oman seeks to do through its �ve year plans and Vision 2020, says Krishnakumar Taori, Managing Director and partner of the Hasan Juma Backer Group.

Consistently heavy investment by the government in the non-hydrocarbon sector in Oman augurs well for economic growth and diversi�cation. �is is being done through private sector development and supply chain localization. If done prudently, this should create jobs, drive innovation and support knowledge transfer to local businesses in the Omani economy.

Hasan Juma Backer Trading & Contracting LLC (HJB) and its allied companies “�e URICH Group” continue to be proud participants in the national economic diversi�cation drive during the 46 years of Blessed Omani Renaissance.

HJB Group has successfully contributed to economic diversi�cation that the Sultanate launched through the Vision for Oman’s Economy (1996-2020). While doing thriving business, HJB & Urich Group have been fully responsible towards their part of social responsibilities towards the Sultanate. �e projects they executed successfully have contributed in the socio-economic �elds. Some of those projects are:• Potable water supply through piped

water supply systems to a sizable number of households who were deprived of safe drinking water,

• Sewage collection, conveyance andtreatment from the households who were dependent on septic/holding tanks and were o�en facing unhygienic conditions,

• Mass housing in remote areas thataccommodated a large chunk of citizens

Espousing Economic DiversificationsSince 1974, HJB Group continues to contribute to economic diversification that was launched in 1995 through the Vision for Oman’s Economy (1996-2020). While doing thriving business, HJB & Urich Group are fully responsible towards their part of CSR.

4

HASAN JUMA BACKER GROUP

Economic Diversification: Challenges & Opportunities 46 Years of Blessed Omani Renaissance 5

scenario of the Sultanate,• ConstructionofAmphitheaters,Hotels,

health & leisure facilities have reinforced the service sector immensely,

• Construction of Engineered MunicipalLand�lls have contributed signi�cantly to waste management,

• Conducted tour packages and vacationplans by Urich Tours, Travels & Cargo have impressed a fair numeral of foreign

travelers that has boosted the tourism/vacation/leisure industries,

• UrichConcreteProductshasgivenafairshare to the building industry

• UrichAsphaltProductshasaddedafairshare to the road construction industry,

• UrichBuildingProductsprimarilydealswithOmaniProductsbesideshasseveralfranchise with world renowned brands which has signi�cantly contributed to use of quality products in the Sultanate,

• Urich Projects eyes the Public PrivateParticipation (PPP) Projects which is

who were in shanty conditions,• Outpostsandothersimilar facilities forMilitary & Paramilitary for stepped-upsecurity in the region,

• Developmentofportareasforfacilitatingexports, imports and other cross the border transactions,

• Development of Industrial Estates forfacilitating growth in establishment of new industries,

• Constructing Head Quarter/CorporateBuildings for many ministries, government departments, lead public sector undertakings enabling them with their permanent establishments,

• Constructionofsports&leisurefacilitiesthat promoted sports and health,

• Construction of road systems toconnect the remote areas with the main

settlements that eases up the transport and consequently enhanced accessibility of medical aid, chain of supplies of food and consumables, added opportunity for the local produce to reach the main market and cold stores and much more that could be envisaged,

• Maintenance of track roads and pavedroads also have high signi�cance for e�cient transport which has high importance in socio-economic development,

• Construction of residential cumcommercial complexes have improved the living standards of the local mass with business opportunities on their doorsteps,

• Constructionofhospitalsandspecializedmedical facilities have sustained health

HJB Group has come a long way since its inception in 1974 as a small-time villa construction firm. Figuring prominently among a select group of international Omani companies, it is now one of the strongest corporate brands in Oman. A major player in the construction industry, it has emerged as a market leader in infrastructure development. Economic diversification is vital to Oman’s long-term economic growth; therefore HJB contributes to it in many ways.

who were in shanty conditions, settlements that eases up the transport

Krishnakumar Taori, MD & Partner, HJB Group.

Krishnakumar Taori, MD & Partner,

6

HASAN JUMA BACKER GROUP

Economic Diversification: Challenges & Opportunities 46 Years of Blessed Omani Renaissance 7

currently one of the major proposed economic diversi�cation components of the Sultanate,

CHALLENGES & OPPORTUNITIES

Oman’s non-oil growth is expected to remain healthy over the next two years, though it will moderate slightly to around 6 percent.Anambitiousdiversificationplanwill help sustain the upbeat pace in the non-oil economy. Oman’s non-oil growth will be primarily driven by its ambition to develop its logistics and tourism sectors and reduce dependence on hydrocarbon revenues.

Gas production, on the other hand, is

expected to remain steady for the next two years,butwillseealargeboostoncetheBPKhazan project comes online in 2017.

Development of logistics sector has a high demand of construction industry. �erefor with the growth of logistics sector the construction industries of buildings and infrastructure will continue to have business however the challenge will be withthePublicPrivateParticipationmodelwhich would call for investments both from native and foreign investors. �e current project of Khazaen is one the ambitious PPPprojectswhichwouldbeviewedasthepilot project in this segment.

On the other hand the growth in tourism sector has been steady in all the past years and expected to continue. �e construction industry again will have fare share in this sector.

Operation and maintenance of the existing infrastructure will continue and as such opportunity will always be available in this segment.

HJB and its allied companies have core business interests in the construction and operation and maintenance segments. �erefore opportunities of construction in the logistics and tourism segments will be the main focus while operation and maintenance segment will supplement the business development.

One the other hand HJB has potential in inviting foreign investments and with their own resources would have opportunity of JointVenturesforthePPPmodels.

�us HJB and its allied companies stand tall while competing for business opportunities in potential economic diversi�cation in the Sultanate of Oman.

CONTRIBUTION TO ECONOMIC DIVERSIFICATION

�e growth of the country starting with meager infrastructure, residential and commercial facilities boomed and �ourished during the oil boom. �e focus shi�ed to development of ports, enhanced power generation, emphasis on transport

& cargo handling, introduction of dams for water reserves, boost to non-conventional energy resources are the few conspicuous areas to be quoted where economic diversi�cation is written large.

HJB and Urich Group of Companies while running their business have been contributing signi�cantly to the Sultanate’s economic diversi�cation and have le� their impression while participation in developing the Sultanate’s resources in almost all the diversi�ed �elds.

Krishnakumar Taori, Managing Director and partner of the Hasan Juma Backer Group (HJB), is a dynamic business leader with foresight, great ideas and implementation capabilities. In his capacity as Managing Director and Partner of the HJB Group, he is responsible for design and planning of the company’s development projects and supervises project management opera-tions.Prior to joining HJB in 1989, Taori worked with the Makers Development Services of Mumbai, India, where he was entrusted with the design work of a massive project in Iraq. In 1986 he came to Oman and worked for a couple of companies before joining the HJB as Project Manager. Within a few years, Taori was promoted to the position of General Manager and then to Group Managing Director and become Partner in view of his commitment and high professional standards.Over the past 33 years of his career, Taori has amassed the insight, acumen and intuition to lead the HJB, which oversees a national and regional portfolio and has strategic partnerships with top-notch firms. Taori not only drives the company’s growth, culture and entrepreneurial environment, but also oversees and manages all of HJB Group of Companies.As Managing Director of the HJB Group, Taori monitors client relationships ensuring client satisfaction, as well as leading the sales, mar-keting and business development efforts for HJB Trading & Contracting Co LLC and URICH Group of Companies.Taori earned his Bachelor’s Degree in Civil Engineering and M. Tech in Environmental Engineering from the University of Nagpur. Being an environmental engineer, Taori has special liking for the infrastructure field.

OUTSTANDING ENTREPRENEUR

insight, acumen and intuition to lead the HJB, which oversees a national and regional portfolio and has strategic partnerships with top-

HASAN JUMA BACKER TRADING & CONTRACTING COMPANY LLC

Company founded in: 1974Total Employees: 3,500Chairman: Hasan Bin Juma Bin Backer Al LawatiVice Chairman: Ahmed Bin Hasan Bin Juma Al LawatiManaging Director: Krishnakumar Badridas TaoriGeneral Manager: Nagesh VatsyayanLocation Address: Building No. 2599, Way No. 6529, Wadi Al KabirPostal Address: PB 612, Ruwi PC – 112, Sultanate of OmanTelephone: +968 24811571, 24811676Fax: +968 24813820Email: hjboman@hasanjuma.com,Contact details of Branch Office - Qatar: hjbqatar@hasanjuma.comTel: +974 4432 2863/4441 2615Fax: +974 44361431

Website: www.hasanjuma.com

HASAN JUMA BACKER TRADING

COMPANY FACTS