Muscat – Sohar Port and Freezone, in partnership with Oman Arab Bank and with the participation of another local Omani bank, has signed a financing agreement worth $220mn to support strategic expansion projects in the southern area of the port, including the Marsa LNG project and Phase 2 of the Sohar Freezone expansion.

The signing ceremony took place during the CEO Summit recently organised by Oman Arab Bank, under the patronage of H E Salim bin Nasser al Aufi, Minister of Energy and Minerals.

The milestone marks a significant step towards strengthening the readiness of Sohar Port and Freezone’s integrated ecosystem and reinforcing its role as a key driver of sustainable trade and investment in Oman.

According to a press release, 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. The collaboration underscores a shared commitment to environmental, social and governance (ESG) standards, with a 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 300MW solar plant, enabling zero-carbon operations and supporting Oman’s clean energy transition.

Commenting on the deal, Ahmed al Hosni, Vice President Finance of Sohar Port and Freezone, said, “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. It significantly boosts the national capacity to fast-track critical infrastructure, attract high-value foreign direct investment, and deliver tangible value and opportunities across the national ecosystem. Together, we are forging a strong foundation for Sohar Port and Freezone’s next phase of growth as a leading global destination for trade and clean energy.”

Sulaiman al Harthi, CEO of Oman Arab Bank, said, “We are proud to support this landmark transaction that advances Oman’s strategic vision for sustainable growth and economic diversification. 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. This initiative also presents a significant opportunity to stimulate the job market and create new employment avenues for Omani talent.”

Since its inception, Oman Arab Bank has positioned itself as a strategic partner in driving both economic and social development across the sultanate. Through impactful initiatives, long-term partnerships, and a focus on creating real value, Oman Arab Bank and Sohar Port and Freezone continue to align their visions with the nation’s key development goals, reinforcing their role as catalysts for positive change across Oman’s logistics, marine services and trade sectors.

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