Loan No: | 660 | Interest Rate: | 2.5 % |
Beneficiary: | Ministry of Transport and Communications | Grace Period: | 5 years |
Project Cost: | KD 68.4 million | Maturity: | 30 years |
Amount of Loan: | KD 48.0 million | Repayment: | 51 semi-annual installments |
Date of Board Approval: | 2018-12-25 | First Installment: | 5 years following the first disbursement |
Date of Loan Agreement: | 2018-12-24 | Date of Loan Effectiveness: | - |
Objectives:
The project aims at improving land transport services on the main corridors in the areas where the road passes through in the Ash Sharqiyah North governorate and Al Wusta governorate in Oman, to accommodate the rapid increase in road traffic, reduce traffic accidents and contribute to the support of economic and social development.
Description:
The project, which is expected to be completed by the third quarter of 2022, includes the development and expansion of the third and fourth sections of the Sinaw – Muhut – Duqm asphalt road, with lengths of about 84 km and 45 km, respectively. The road consists of two lanes, one in each direction, with a total width of about 7.5 m, and shoulders with a width of 2.5 m on each side. The project consists of the execution of all the civil works necessary to develop and construct a new road parallel to the old one, and provide the consultancy services required for the project. The project consists of the following main components:
- Civil Works:This includes all the works necessary to construct both sections of the road, covering preparatory works, earthworks, construction of pavement layers, asphalt paving, construction works related to water drainage, and other complementary works such as road embankments, road lighting, traffic safety and others.
- Consultancy Services:This includes the consultancy services required to update design and bid documents, and assistance to the ministry in qualifying contractors, bidding and bid analysis. It also includes supervision of works and any necessary adjustments to the design and specifications during the execution.
Financing:
The Arab Fund’s loan covers about 70% of the total project cost. The Omani Government will cover the remaining cost of the project and any additional cost that may arise.