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FINANCIAL NEWS
Saudi signs USD183.92m port deals with Oman
22 Mar 2015
(MENAFN) Saudi Arabia signed two agreements worth USD183.92 million with Oman for development of infrastructure in Special Economic Zone in Duqm (SEZD) and construction of fishing port, Saudi Gazette reported.
The agreements come under the umbrella of a GCC approved program for funding some development projects in Oman. Saudi is set to cooperate in the program with a sum worth USD2.48 billion.
The first USD44.81 million agreement is set for the development of Duqm free zone infrastructure development and aims at developing the zone, which is the gateway of logistic supply for the GCC region.
The second USD139.11 million agreement is set for the construction of fishing port and fish processing complex and aims at developing the fisheries sector and make optimum utilization of the abundant fish resources in the wilayat of Duqm.
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