Oman and Saudi Fund for Development Sign MoU for Thumrait Industrial City
- brg_news_room
- Feb 3
- 1 min read
OMAN: Oman’s Ministry of Finance and the Saudi Fund for Development have signed a memorandum of understanding to finance the construction of Thumrait Industrial City in Dhofar Governorate, with Saudi funding of USD 40 million. The agreement was signed in Muscat by Sultan Salim Al Habsi and Sultan bin Abdulrahman Al Marshad.
The project will establish an integrated industrial city with roads, utilities, power and water networks, sewage treatment plants, public services and administrative facilities. It aims to strengthen industrial and logistics activity, support private sector participation and advance regional economic development in southern Oman.
Source: Gulf Construction
