Oman has signed key agreements worth RO71 million ($181 million) with the Saudi Fund for the development of infrastructure in the Special Economic Zone at Duqm.

As per the deal, Saudi Fund will also finance the construction of a fishing port in Duqm, reported the Oman Observer.

The two agreements are part of the approved GCC programme for finance of some development projects in the Sultanate.

The first agreement worth RO17.3 million ($44.7 million) will see the development of infrastructure at Duqm zone, while the second deal, worth RO53.7 ($139 million) involves the construction of a fishing port and fish processing complex.

Saudi Arabia’s share in the GCC programme stands at RO960 million ($2.4 billion), the report added.