Muscat: The Sultanate of Oman has entered into a financing agreement with the Kuwait Fund for Arab Economic Development to finance the second phase of the internal roads project in the Special Economic Zone at Duqm (SEZAD).

According to Oman News Agency, the agreement was signed by Sultan Salim Al Habsi, Minister of Finance for Oman, and Waleed Shamlan Al-Bahar, Acting Director General of the Kuwait Fund for Arab Economic Development. The project is designed to bolster economic and social development at SEZAD by developing residential areas and transport infrastructure.

The project's scope includes the construction of main and secondary road networks, paving internal roads in the First and Second Residential Areas, and the Industrial Area. The project also involves setting up storm water drainage systems, traffic safety equipment, and consultancy services, alongside relocating existing utilities.

This initiative aligns with the strategic objectives of Oman Vision 2040, aiming to enhance transportation within SEZAD, improve connectivity between residential and industrial zones, and support the region's economic growth.

Eng. Ahmed Hassan Al Dheeb, Vice Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), mentioned that the project is in the commercial district of the Sai district. He noted that the Authority has completed project plans and tendering methods, with technical analysis of submitted bids currently in progress.

Waleed Shamlan Al-Bahar highlighted that the Kuwait Fund's financing for this phase amounts to approximately RO 12.4 million. The signing event was attended by Qais Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones.