Sohar locks in USD 220 mn for phase two: Oman’s Sohar Port and Freezone closed a USD 220 mn financing agreement with Oman Arab Bank and another local Omani bank to finance its expansion efforts, Muscat Daily reports. The funds will back expansion in the port’s southern area, including the Marsa LNG project — a TotalEnergies-OQ JV — and the second phase of the Freezone. Oman Arab Bank is taking on the roles of facility agent, security agent, and principal financier.

What’s in store for the zone? We know that the zone’s second phase involves adding 670 hectares in a bid to boost cargo capacity, the Oman News Agency reported earlier this year.
The upcoming phase will also include a USD 565 mn solar production facility by China-based Ja Solar, which is slated to begin operations by 1Q 2026.

Marsa LNG is making strides: This month, the project signed a natural gas sales agreement with Oman’s state-owned Integrated Gas Company to offtake and transport 150 mn cbm of natural gas.

REMEMBER- Marsa LNG — the first LNG bunkering project in the region — is a 44.5-hectare LNG liquefaction plant boasting a total investment ticket of USD 1.6 bn. The plant will be powered by a 300 MW solar plant and will produce one mn tonnes of LNG annually. Dredging began earlier this year, with LNG production at the plant set to kick off in 1Q 2028.

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