The Oman’s Ministry of Finance and the Saudi Fund for Development (SFD) have signed a Memorandum of Understanding (MoU) in Muscat to finance the construction of the Thumrait Industrial City project in the Dhofar Governorate.
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 Thumrait Industrial City project aims to advance the industrial, logistical, developmental, and social sectors in the Dhofar Governorate through the establishment of a fully integrated industrial city in the Wilayat of Thumrait.
Spanning an estimated area of nearly 3.94 million square meters, the Thumrait Industrial City will be equipped with comprehensive and modern infrastructure services and essential utilities, while creating an enabling environment that supports and encourages private sector participation, thereby contributing to sustainable economic growth and the broader development objectives of the Sultanate.
The Thumrait Industrial City project encompasses the construction, implementation, and outfitting of administrative buildings, public services, and community facilities, alongside comprehensive infrastructure works including internal road networks, electrical installations, and water supply systems.
The agreement also includes the establishment of two sewage treatment plants, the development of essential city utilities and support services, as well as the provision of specialized engineering consultancy services to ensure efficient planning, execution, and long-term operational sustainability of the project.
The signing ceremony was attended by Ibrahim Said Bishan, Ambassador of the Kingdom of Saudi Arabia to the Sultanate of Oman. The agreement underscores the shared commitment of both countries to advancing development projects that contribute to economic growth and regional prosperity.
