MoU
Signed to Finance Construction of Thumrait Industrial City Project

Muscat,
2 Jan 2026 (ONA) — The Ministry of Finance and the Saudi Fund for Development
(SFD) signed a Memorandum of Understanding (MoU) today in Muscat to finance the
construction of the Thumrait Industrial City project.

The
project aims to develop the industrial, logistical, developmental, and social
sectors in the Dhofar Governorate by establishing an integrated industrial city
equipped with comprehensive infrastructure services in the Wilayat of Thumrait,
while supporting and encouraging the private sector to contribute to the
economic development of the Sultanate of Oman.

The
project encompasses the implementation and outfitting of administrative
buildings, public services, and facilities, as well as infrastructure works,
roads, electrical installations, and the water network. It also includes the
construction of two sewage treatment plants and essential city utilities, in
addition to the provision of engineering consultancy services for the project.

The
memorandum was signed on behalf of the Government of the Sultanate of Oman by Sultan
Salim Al Habsi, Minister of Finance, and on behalf of the Saudi side by Sultan
bin Abdulrahman Al Marshad, CEO of the Saudi Fund for Development.

The
signing ceremony was attended by Ibrahim Said Bishan, Ambassador of the Kingdom
of Saudi Arabia to the Sultanate of Oman.

—Ends/AG