Oman has inked a USD 212 mn loan agreement with the Opec Fund to develop the Diba-Lima-Khasab road project, according to a statement. The funds were approved during the Opec Fund Development Forum 2025, during which the Fund inked nearly USD 1 bn worth of project financing agreements in African and Asian countries.

The financing is the second tranche of a USD 392 mn loan agreement signed between the parties last year, which was divided into two tranches of USD 180 mn and USD 212 mn. This came one year after Oman’s Transport, Communications, and Information Technology Ministry inked an agreement for the design and implementation of the project — also known as the Sultan Faisal bin Turki Road.

What do we know? The project includes 11 bridges and 350 container points along the road, which will have 14-meter lanes going in each direction. Construction was 15% finished by July 2024, with completion initially expected by September of the same year. Ground preparations for the Dibba-Lima road were said to be done, with 60 km of the 72-km road works paved. Some 12 km of the 22-km road linking Lima to Khasab — considered the most difficult part — has also been completed.

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