$301m AIIB finance for port, rail projects

By Business Reporter — MUSCAT: Dec 10: Oman has been granted $301 million financing for developing two major infrastructure projects from the Asian Infrastructure Investment Bank (AIIB). The allocations — the first by the China-led multilateral lender for projects in the Arabian Peninsula — have been earmarked for the upgrade of Duqm Port ($256 million), as well as the initial development of the Sultanate’s rail network ($36 million).