The Bank was recognized for its leading role and support of Oman’s industrial and infrastructure sectors, including Phase 1 of the Frontier Town Project undertaken by Duqm Development Company (DDC) and Oman Refineries and Petrochemicals Company (ORPIC).
The award was presented to Mr. Hassan Abdul Amir Shaban, Head of Government Banking at the National Bank of Oman at a ceremony attended by over 300 experts including industry leaders, policy makers from the government, professionals from public and private sectors including project owners, design and engineering consultants, construction contractors and construction material companies.
Speaking at the award, Hassan Abdul Amir Shaban, Head of Government Banking at the National Bank of Oman, commented, “As one of the oldest and largest financial institutions in the country National Bank of Oman has often demonstrated its commitment to playing a key role in supporting large infrastructure projects in Oman.
“This award not only recognises our effort in helping to build large infrastructure projects in Oman, but also reflects our commitment to support Oman’s economy in line with the economic diversification strategy,” added Shaban.
National Bank of Oman has provided the total bank financing requirement of RO 25 million to develop Duqm which provides much needed quality residential accommodation for the management and staff of Oman Dry Dock Company (ODDC).The Bank has also provided ATMs within the ODDC premises and established a branch in Duqm itself, to provide convenient local banking services for businesses and up and coming SMEs working in the area.
Over the last five years, National Bank of Oman has supported a number of significant national projects including the ORPIC expansion project, Octal Petrochemical Company, Electricity Holding Company plus subsidiaries and Duqm Development Company. In addition, the Bank has supported the development of all Independent Power Producer (IPP) and Independent Water and Power Producer (IWPP) projects established in Oman including Sohar Power, Dhofar Power, Barka Power, Sembcorp Salalah and Al Kamils.