Mubasher: Port Services Corporation said Sunday that its board of directors agreed to extend the concession agreement to manage and operate Port Sultan Qaboos with the same terms and conditions for a period of one year, up to 31 December 2017 and not 3 months as requested.

The company said that this extension is subject to the ministry of transport and communications’ acceptance, on which Port Services Corp will hold an extraordinary general meeting (EGM) in January 2017 to defer the liquidation of the company for one year, according to a bourse filing.