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Sohar Port signs $200m project loan

Muscat, September 29, 2009

Oman's Sohar Industrial Port Company has signed a $200 million loan agreement with local and international banks to finance a port project.

The bank consortium consists of Bank Muscat, National Bank of Oman, Bank Dhofar, Ahli Bank and State Bank of India.

"The money will be used to finance the construction of the jetty at Port of Sohar," Edwin van Espen, head of Sohar Port Special Projects told Reuters on the sidelines of the signing ceremony.

He added that a joint venture between Italy's Saipem and India's Afcons was awarded the contract to build the 600 m long jetty and a deep water basin. - Reuters




Tags: Sohar port | funds |

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