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
Proposed
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.
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 Nov 8, 2017


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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 In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.