European retail major Sainsbury’s, is planning to set up a new operations hub in Oman’s Sohar Port as part of its new product roll out plan in Africa and Middle East, media reports said. The company will launch 12,000 products.
The company’s distribution arm International Distribution Network has selected National Bank of Oman (NBO) as its onshore banking partner for the development. The retail major has which has 1400 stores in the UK aims to tap potential market in Africa and the Middle East through the operations hub of International Distribution Network set up recently in Sohar.
The International Distribution Network plans to supply in the following nations through the hub: Pakistan, Egypt, Jordan, the UAE, Kuwait, Qatar including Oman.
Shahid Rafique K, director Sales & Operations at International Distribution Network, told the media,” We are delighted to have chosen NBO as our onshore banking partner and are confident that the collaboration will help us to capitalise on the geographical advantages that Oman offers, as well as its rapidly developing transport and logistics infrastructure, as we seek to grow our presence in the wider region.”
Asif Redha, head of Global Transaction Banking at NBO, said that the bank is happy to provide its services to International Distribution Network Oman and expects to bolster the partnership over the coming years. NBO is always ahead in terms of catering the international and local market with its innovative technological solutions.
The pandemic has hampered the global businesses. However, companies are expecting a rebound in their businesses.