MUSCAT – The project aims to develop the industrial, logistical, social, and developmental sectors in Dhofar by creating an integrated industrial city with full infrastructure services in Thumrait. It also seeks to support and encourage the private sector to contribute to Oman’s economic growth.

Planned works include the construction and equipping of administrative buildings, public facilities, and infrastructure such as roads, electrical and water networks, as well as the establishment of two sewage treatment plants. The project will also provide engineering consultancy services to ensure proper planning and implementation.

The MoU was signed on behalf of the Government of Oman by His Excellency Sultan bin Salem Al Habsi, Minister of Finance, and on behalf of the Saudi Fund for Development by His Excellency Sultan bin Abdul Rahman Al Murshid, CEO.

Speaking at the signing, the Minister of Finance said the agreement reflects the commitment to strengthening developmental, economic, and investment ties between Oman and Saudi Arabia and encouraging partnerships across various sectors.

The CEO of the Saudi Fund highlighted that the memorandum underscores the Fund’s efforts to support Oman’s development sectors and to reinforce close development partnerships between the two countries. He added that the project would create a stimulating environment for industrial and logistical activities, benefiting the private sector and contributing to economic and social development.

The signing ceremony was attended by His Excellency Abdullah bin Salem Al Harthy, Undersecretary of the Ministry of Finance; His Excellency Ibrahim bin Saad bin Bishan, Ambassador of Saudi Arabia to Oman; Eng. Dawood bin Salem Al Haddabi, CEO of the Public Establishment for Industrial Estates ‘Madayn’; along with senior officials from both sides.