(MENAFN) Oman's Special Economic Zone in Duqm and China-based Asian Infrastructure Bank has signed USD265mn deal for funding Phase II of Duqm Port.
Moreover, the port will receive USD265mn worth of loan, which will be repaid in installments for a period of 25 years, involving five-year grace period.
Additionally, signing the deal is part of Sezad's commitment to finish all infrastructure projects related to Duqm Port by 2020.
Meanwhile, Sezad inked three key deals last year to complete the remaining works at Duqm Port as part of its plan to prepare the port of commercial ops.
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