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Oman has secured a loan facility of up to USD 392 mn from the Opec Fund for its Diba-Lima-Khasab road project, according to a statement. The loan will be dispersed in two tranches of USD 180 mn and USD 212 mn, and is part of a larger USD 1.2 bn package in new development financing directed to projects in Jordan, Armenia, Benin, Colombia, Côte D’Ivoire, DRC, Honduras and Tajikistan.
Background: Oman inked the agreement for the design and implementation of the road link project back in December. The project plans to develop 11 bridges and 350 container points along the road, which will have 14 meter lanes going in each direction. Al Sarooj Construction Company is overseeing the design and construction of the road, Ona reported.
The project is underway: Oman’s transport and technology ministry announced that construction works on the Diba-Khasab-Lima road were 15% complete in July. The ground preparations to build the Dibba-Lima road are complete with 60 km of the 72 km road works paved. Some 12 km of the 22 km of road linking Lima to Khasab — reportedly the most difficult part — is complete, said Al Maawali.
