The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) announced – on the sidelines of the IsDB Group Annual Meeting 2025 in Algiers – the signing of a Specific Transaction Policy (STP) for Boskalis, valued at $40 million.
According to ICIEC, this agreement – signed by Dr. Khalid Khalafalla, CEO of ICIEC – underpins a project critical to expanding Oman’s logistics capacity.
Dr. Khalafalla said: “ By supporting Boskalis’ participation in the SOHAR Port and Freezone South Expansion Project, we are helping to secure the delivery of a project that will fortify Oman’s gateway to world trade, generate skilled employment and promote sustainable, diversified growth.
By deepening navigation channels and enhancing jetty infrastructure, these strategic developments are set to significantly increase SOHAR Port’s throughput capacity, attract high-value industrial investments, and solidify the Sultanate’s role as a leading regional maritime hub – all in alignment with Oman Logistics Strategy 2040, said ICIEC.
Also, this will pave the way for a major energy milestone: the launch of the Middle East’s first LNG bunkering project, MARSA LNG, a joint venture between TotalEnergies and OQEP, positioning Oman at the forefront of clean maritime fuel.