Gulf Oil and Gas accountACCOUNT

Duqm Authority Signs $265M Finance Agreement with China-based Bank

Source: Times Of Oman 1/16/2017, Location: Middle East

Omanís Special Economic Zone Authority in Duqm (Sezad) and China-based Asian Infrastructure Investment Bank (AIIB) have signed a $265 million loan agreement for funding the second phase of Duqm Port. The package is related to implementing the commercial terminal within the port.

As per the agreement, Sezad will receive $265 million worth of loan, which will be repaid in installments for a period of 25 years, including five-year grace period. The finance has been availed at a competitive price and low finance fees compared to other financing agencies. The Sultanate is one of the leading countries that contributed to the China-based AIIB.

Yahya bin Said Al Jabri, chairman of the Special Economic Zone Authority in Duqm (Sezad) signed the agreement with Dr. D J Pandian, AIIB vice president and chief executive officer for investment.

Signing this agreement is part of Sezadís commitment to complete all infrastructure projects related to Duqm Port by 2020 and achieve the authorityís vision of enhancing the role of the Special Economic Zone of Duqm (SEZD) and attract more investments at the various industrial, business and tourism sectors.

Scores of infrastructure, industry, business, tourism, logistic and real estate projects are currently underway at the free zone.

Sezad signed three key agreements last year to complete the remaining works at Duqm Port as part of its plan to prepare the port for commercial operations. These agreements are related to the second, third and fourth packages of the port at a total cost of OMR239.9 million.

Financials and Investment News in Oman >>

Nigeria >>  11/23/2020 - Further to its announcements of 1 September 2020 and 2 November 2020 regarding its proposed investment in Decklar Petroleum Limited ("Decklar") and th...
United Kingdom >>  11/23/2020 - Kistos, the closed-ended investment company which has been established with the objective of creating value for its investors through acquisition and ...

Algeria >>  11/18/2020 - Neptune Energy has announced its financial results for the three months ended 30 September 2020.

Good safety and underlying operational ...

Australia >>  11/18/2020 - 88 Energy has successfully completed a bookbuild to domestic and international institutional and sophisticated investors to raise up to A$10.07 millio...

Denmark >>  11/18/2020 - During the third quarter A.P. Moller - Maersk improved profitability across the business and delivered strong free cash flow, despite the negative imp...
United States >>  11/18/2020 - In support of President Donald J. Trump's America-First Offshore Energy Strategy, Deputy Secretary of the Interior Kate MacGregor and the Bureau of Oc...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Oman Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.