RIYADH: The Saudi Fund for Development has so far financed developmental projects in the Sultanate of Oman to the tune of 11 billion Saudi riyals (equivalent to RO 1.1 billion approx.) since 1977. These projects are distributed across infrastructure, transportation, education, health, water, and energy, according to Eng Sultan Abdul Rahman al Murshid, CEO of the Fund.
Al Murshid added that the Fund recently signed an agreement to finance the construction of infrastructure in the integrated economic zone in Al-Dhahirah with funding support of 1.2 billion Saudi riyals. Work on the project will begin in Q1 2024.
The integrated economic zone in Al-Dhahirah is one of the vital projects that will serve both countries in terms of increasing trade exchanges, creating specific industries, and encouraging partnerships between sectors to provide goods and products and reduce the cost of production and export between the two brotherly countries, he said.
Earlier, the Saudi Fund had allocated 500 million Saudi riyals to support the construction of a fish industries complex at the fishing port in Duqm SEZ. — ONA
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