MUSCAT: The Sultanate of Oman on Tuesday signed a financing agreement with the Kuwait Fund for Arab Economic Development to contribute to the financing of the second phase of the internal roads project in the Special Economic Zone at Duqm (SEZAD).
The agreement was signed by Sultan bin Salim al Habsi, Minister of Finance, and Waleed Shamlan al Bahar, Acting Director-General of the Kuwait Fund for Arab Economic Development. The project aims to support economic and social development efforts in the Special Economic Zone at Duqm, develop residential schemes, and provide associated facilities and amenities to facilitate transport movement within the plots designated for citizens. The scope of the project includes the development of main and secondary road networks through the paving of internal roads in the First and Second Residential Areas and the Industrial Area.
Additionally, the project encompasses the implementation of associated infrastructure, such as stormwater drainage systems and traffic safety equipment, as well as consultancy services and the relocation of existing utilities.
The implementation of this project is part of a broader effort to enhance the transport system within SEZAD, ensure smooth transit between residential and industrial areas, and create an advanced urban environment that keeps pace with the rapid economic growth, in line with the strategic objectives of Oman Vision 2040. Eng Ahmed bin Hassan al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones, stated that the agreement pertains to financing the second phase of the internal roads project in the commercial area of Sai.
He confirmed that the Authority has completed all project components, including the preparation of plans and tendering methods, and that technical analysis is currently underway for the bids submitted to execute the project. Al Bahar said that the financing for the implementation of the second phase of the internal roads project in the Special Economic Zone at Duqm amounts to approximately RO 12.4 million. The signing ceremony was attended by Qais bin Mohammed al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones. — ONA
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