Oman’s Public Establishment for Industrial Estates (PEIE) has signed financial facility worth RO50 million ($129 million) with Bank Dhofar for several infrastructure projects undertaken by the PEIE in its industrial estates, a report said.

“Moreover, the agreement represents the beginning of PEIE’s tie with local banks in the Sultanate. We aspire to witness development and completion of all infrastructure projects in the industrial estates through this agreement and the upcoming ones,” Ahmed bin Hassan al Dheeb, undersecretary of the Ministry of Commerce and Industry, was quoted as saying in the Oman Observer report.

Hilal bin Hamad Al Hasani, chief executive officer of PEIE, said: “This loan will be invested in implementing a range of vital projects such as the logistics area in Rusayl Industrial Estate, the expansion of third and fourth phases of Nizwa Industrial Estate, expansion of the new phase in Raysut Industrial Estate, expansion project of the Knowledge Oasis Muscat, in addition to completion of a number of existing projects including infrastructure project in Al Mazunah Free Zone, infrastructure project of Samayil Industrial Estate, and sewage treatment plant in Rusayl Industrial Estate.”

The agreement will provide a package of facilities related to infrastructure projects, which will contribute significantly to the attraction of local and foreign investments, Al Hasani said.