Saudi Arabia supports Oman’s industrial city project with financing of $40 million

RIYADH — Saudi Fund for Development (SFD) CEO Sultan Al-Marshad and Oman’s Minister of Finance Sultan Al Habsi signed a memorandum of understanding (MoU) to support the establishment of an industrial city in Oman, funded by Saudi Arabia through the SFD with an amount of $40 million.The MoU aims to develop the industrial and logistical sectors in the Dhofar governorate through a fully integrated industrial city covering approximately 3.94 million square meters, equipped with comprehensive infrastructure. This includes administrative and service buildings, public facilities, road networks, electricity and water systems, two wastewater treatment plants, and engineering consultancy services.Al-Marshad said the MoU reflects the Kingdom’s commitment to supporting Oman’s development sectors and strengthening bilateral development cooperation.