Saudi Arabia to Finance USD 40 Million Industrial City in Oman

The Saudi Fund for Development and Oman’s Ministry of Finance signed an agreement to finance USD 40 million for the establishment of Thumrait Industrial City in the Dhofar governorate of Oman, planned as a fully integrated development over approximately 3.94 million square metres.

According to the project scope, the industrial city will be supported by comprehensive infrastructure and services. Works include administrative and service buildings, public facilities, road networks, electricity and water systems, and the construction of two wastewater treatment plants. Engineering consultancy services are also included within the agreement to deliver the development to specification.

The agreement is intended to develop the industrial and logistical sectors in Dhofar by creating an integrated platform for industrial and service activities. The arrangement was formalised between the Saudi Fund for Development and Oman’s Ministry of Finance, with attendance from officials from both sides.