Oman: Broadband Infrastructure Project (AIIB-000027)

Countries
  • Oman
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 8, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Oman Broadband Company SAOC
The holder of the loan, grant, or other investment.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 239.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 467.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 29, 2020


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Project Description

According to AIIB documents, this project will finance Oman Broadband in relation to its roll-out of a fiber optic broadband cable network to approximately 406,003 homes/premises by the end of 2021. The Project comprises of laying approximately 4,097 km of cable, dropping approximately 9,535 km of cable and installing supporting infrastructure such as fiber distribution hubs. Once the Project is complete, 80% of Muscat will be fiber-ready for connection with the gigabit-capable optical networks.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

The total project cost through 2021 is estimated to be around $467 USD million and is to be funded by equity, debt and operating cash flow from its on-going operation. The financing plan envisages a long-term debt financing with the combination of A Loan and B Loan in total of approximately $239 USD million. The size of the total debt and its component may be refined
alongside the appraisal process.

Contact Information

Mr. Gregory Liu
Project Team Leader/Principal Private Sector Operations Specialist
E-Mail: gregory.liu@aiib.org
Tel: +86 10 8358 0228

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.