Announcement of World Bank Lends Sixteen Million Five Hundred Thousand Dollars to Sultanate of Oman on June 2, 1977

9v'Vorld Bank '1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK RELEASE N0:77/119 JUNE 2, 1~77 WORLD BANK LENDS $16.5 MILLION ---- TO SULTANATE OF' OMAN- .. ·-- " The World Bank has approved two loans totaling $16.5 mi 11 ion to the Su 1tan ate of Oman for a highway maintenance project and power and water studies. $1.5 million wi 11 be used to prepare power and water studies which include: short and medium-term programs for high priority investment necessary to develoo ~ electricity and water in major urban and rural growth centers; a broad master plan for. future priority projects to meet long-term requirements; and recom- mendations to improve operations of power and water projects. The loan will have an interest rate of 8.2 per cent per annum wi~h 10 years amortization including two years' grace. Oman has recently expanded its highway network to connect all major areas of the country. $15 million will assist the Roads Department in establishing effective highway maintenance; acquiring necessary maintenance equipment; tra.ining Omani nationals to carry out highway maintenance; and providing technical assistance by consultants. The loan wi 11 have an interest rate of 8.2 percent per annum with 15 years amortization including three years grace . • NOTE: Money figures are expressed in U.S. dollar equivalents. -o- FORM 1'\10. 1121 <f.:11:u ''t>t,,, T E C H N I C A L D A T A PROJE.CT: COUNTRY: TOTAL COST: Highway Maintenance Sultanate of Oman $4 7. 1 mi 11 ion • FINANCING: $15 mi 11 ion .. OTHER FINANCING: Government of Oman IMPLEMENTING~ORGANIZATION: Sultanate of Oman's Roads Department (Minfstry of Communications P. O: Box 684 Muscat Sultanate of Oman) PROJECT DESCRIPTION: major objective is the preservation of Oman's paved and The graveled highway network to ma[ntain an efficient national transportation network to serve present and future transportation needs through a highway maintenance program; training of Roads Department staff: purchase of necessary maintenance equipment and technical assistance. • PROCUREMENT: Equipment will be procured by competitive bidding in accordance with Bank guidelines. Construction contracts will be bi~ by loi;a1 competetive bids. Small training items wi 11 fol la.,1 normal government procedures. CONSULTANTS: About 200 man-months of maintenance management consultants' services will be provided to establish and manage the routine maintenance progr~m; assess training needs, recommend and implement an agreed trainin~ progr~~ and e,iablish cost accounting procedures for highway maintenance operations. About 100 man-months of consu1tants' services will provide administrative, planning and operational support to the Roads Department. ECONOMIC RATE OF RETURN: Between 80% and 100% t, ·• EST I MA"fED COMP~ET I ON DATE: 1981 - 0 - •