More than RO 1.1billion pumped in Oman by Saudi Fund for Development

Riyadh: His Excellency Engineer Sultan bin Abdul Rahman Al-Murshid, CEO of the Saudi Fund for Development, explained that the Fund began financing many development projects in the Sultanate of Oman in 1977, including the sectors of infrastructure, transportation, education, health, water, and development projects in the energy sector.

His Excellency told the Oman News Agency that the total amounts pumped by the Saudi Fund for Development so far in the Sultanate of Oman exceed 11 billion Saudi riyals, equivalent to (RO 1.1 billion), expressing his hope that this development cooperation between the Fund and the Sultanate of Oman will continue.

His Excellency added that the Fund recently signed an agreement to finance the construction of infrastructure in the integrated economic zone in Al-Dhahirah at an amount of approximately 1.2 billion Saudi riyals, indicating that the project will begin implementation in the first quarter of 2024.

His Excellency Sultan Al-Murshed stressed that 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.

Regarding the marine fishing port in Duqm, His Excellency the CEO of the Saudi Fund for Development explained that the Fund allocated 500 million Saudi riyals to establish the fish industries complex in the marine fishing port in the Special Economic Zone in Duqm, and the implementation of the port’s infrastructure has been completed.