The OPEC Fund for International Development (OPEC Fund) has announced a loan facility of up to $392 million consisting of two tranches ($180 million and $212 million) to support the Dibba-Lima-Khasab road project in Musandam, Oman.

The financing was part of nearly $1.2 billion in new development funding approved by the Fund last week at the 189th session of its Governing Board.

In July 2024, Oman Daily Observer had reported that project’s implementation rate currently stands at 15 per cent ahead of the scheduled 11 per cent.

Oman’s Ministry of Transport, Communications and Information Technology awarded the main construction contract for the project to local firm Al Sarooj Construction Company in December 2023.

(anoop.menon@lseg.com)

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