The Oman Tourism Development Company (Omran) has unveiled new plans for a waterpark in Muscat, one designated a key project by the nation’s rulers as the country aims to reduce its dependency on oil.

The proposal was created through the National CEO Programme (NCP) – a first-of-its-kind strategy addressing Oman’s private sector’s needs for talented business leaders and executives. Through the NCP, an all-Omani team of six senior executives spent a year developing a detailed business plan for the concept.

“Omran’s mission is to seek and support projects of national significance that can help position Oman as a leading global visitor destination,” said Omran CEO James Wilson. “We actively look to support develop and grow national capacities to develop and manage these projects, which is why we are fully committed to collaborating with the NCP. In addition, it is one of our key performance objectives to train and develop the future executive leaders in Omran.”

The project will be developed and financed in partnership with the private sector, with reported significant interest by local investors to take part in the project.

With faltering oil prices affecting the country’s economy, Oman announced plans for three new waterpark developments in March as it steps up efforts to boost the tourism sector with billions in future investment.

The move is aimed at inspiring domestic tourism, with the majority of the Omani population currently choosing to visit the nearby United Arab Emirates, with official statistics showing more than a million people visited the UAE from Oman in 2015 alone – more than a fifth of the population.

Oman’s National Strategy for Tourism 2040, includes a 6 per cent rise in tourism contributions and a near doubling of visitor numbers to five million annually.