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Oman, Kuwait fund sign $32.2mln financing deal for Duqm roads project

Oman, Kuwait fund sign $32.2mln financing deal for Duqm roads project

Oman, Kuwait fund sign $32.2mln financing deal for Duqm roads project

Jan 28, 2026

Muscat – Oman on Tuesday signed a financing agreement with the Kuwait Fund for Arab Economic Development to support the second phase of the internal roads project in the Special Economic Zone at Duqm (SEZAD).

The agreement was signed on behalf of the Government of the Sultanate of Oman by H E Sultan bin Salim al Habsi, Minister of Finance, while Waleed Shamlan al Bahar, Acting Director General of the Kuwait Fund for Arab Economic Development, signed on behalf of the Fund.

Bahar said the financing allocated for the implementation of the second phase of the internal roads project in SEZAD amounts to approximately RO12.4m.

The signing ceremony was attended by H E Qais Mohammed al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones.

The project aims to support economic and social development in SEZAD through the development of residential schemes and the provision of related facilities and amenities to facilitate transport movement within plots designated for citizens. The scope of work includes the development of main and secondary road networks through the paving of internal roads in the First and Second Residential Areas, as well as the Industrial Area.

The project also includes associated infrastructure works, such as stormwater drainage systems and traffic safety equipment, in addition to consultancy services and the relocation of existing utilities.

The implementation of the project forms part of broader efforts to enhance the transport system within SEZAD, ensure smooth connectivity between residential and industrial areas, and create an advanced urban environment that keeps pace with the region’s rapid economic growth, in line with the strategic objectives of Oman Vision 2040.

Ahmed Hassan al Dheeb, Vice Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), said the agreement relates to financing the second phase of the internal roads project in the commercial district of the Sai district.

He confirmed that the Authority has completed all project components, including the preparation of plans and tendering mechanisms, and that technical evaluation of the submitted bids is currently under way.