Sohar Port and Freezone, in partnership with Oman Arab Bank signed a financing agreement valued at US$ 220 million to support strategic expansion projects in the southern area of the Port, including the Marsa LNG project and Phase 2 of the Freezone expansion.
This milestone marks a significant step toward strengthening the readiness of SOHAR’s integrated ecosystem and reinforcing its role as a key driver of sustainable trade and investment in the Sultanate of Oman.
Oman Arab Bank acted as Facility Agent, Security Agent, and Principal financier, providing comprehensive financial expertise to ensure the facility aligns strategically with Oman’s Vision 2040 priorities.
This collaboration underscores a mutual commitment to environmental, social, and governance standards, highlighting the focus on green financing and sustainable development.
The Marsa LNG project, a joint venture between TotalEnergies and OQ, is set to become the region’s first large-scale LNG bunkering and export facility.
Developed on a 44.5-hectare site with an annual production capacity of around one million tonnes, the project will be fully powered by a dedicated 300 MW solar plant, enabling zero-carbon operations and supporting Oman’s clean energy transition.
Ahmed Al Hosni, VP Finance of Sohar Port and Freezone, commented that this partnership is a game-changing step for Sohar port and Freezone, amplifying the national drive for sustainable expansion and directly advancing Oman’s economic vision.
Sulaiman Al Harthi, CEO of Oman Arab Bank, added that by leading this financing facility, Oman Arab Bank reaffirms its commitment to enabling transformative infrastructure projects that align with ESG principles and contribute to long-term national value.
