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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

$301m AIIB finance for port, rail projects

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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).


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