Latest news with #MDO
Zawya
25-05-2025
- Business
- Zawya
Bank Nizwa extends strategic financing to Oman's largest integrated copper concentrate project
Muscat: In a significant milestone underscoring its commitment to the nation's diversification goals, Bank Nizwa, the leading and most-trusted Islamic bank in the Sultanate of Oman, has announced its participation in a syndicated financing agreement supporting the development of the Sultanate's largest integrated copper concentrate project, led by Mazoon Mining—a subsidiary of Minerals Development Oman (MDO). Bank Nizwa's contribution of US$ 35 Million, to the total syndicated financing of US$ 270 Mn, reinforces the bank's commitment to support transformative national projects through Sharia-compliant financing. Formalized during the prestigious Rawabit Forum, hosted by the Oman Investment Authority, the agreement underlines the bank's strong confidence in Oman's mining sector as a driver of sustainable growth for the nation and its broader objective in continued promotion of Sharia-compliant investments contributing to Oman Vision 2040. Commenting on the bank's involvement, Mr. Saif Al Rawahi, Acting DGM – Wholesale Banking at Bank Nizwa, stated, 'Our participation in this pivotal financing agreement is a reflection of our strategic intent to be at the forefront of Oman's economic transformation. At Bank Nizwa, we view mining as a vital industry in Oman's diversification agenda, offering scalable investment opportunities with strong value multipliers across the national economy. Our financing of this project illustrates our dedication to providing Islamic banking solutions that facilitate industrial growth while upholding principles of sustainability and transparency. This initiative also underscores our outlook on Oman's emergence as a competitive player in the global minerals market, particularly in sectors propelled by clean energy transition and technological advancement. As a pioneering Islamic financial institution, we continue to structure forward-looking financing solutions that align with national priorities and elevate the nation's position within the global economic landscape." Mazoon Mining's Copper Concentrate Project represents a strategic convergence of resource potential and sustainable innovation. Positioned to support Oman's vision of becoming a regional leader in copper concentrate production, the project addresses growing global demand for copper—an essential component in renewable energy infrastructure and advanced electronics. With sustainability at its core, the initiative features a zero-liquid-discharge system and state-of-the-art waste management technologies, fully aligned with Bank Nizwa's ESG principles and ethical financing mandate. Through this partnership, Bank Nizwa is enabling the development of high-value mining assets that balance global market relevance with local economic and social priorities. The project is also poised to create direct and indirect employment, foster SME participation, and drive broad-based economic growth within the community. Bank Nizwa's participation in this landmark transaction underscores its growing reputation as a trusted partner for transformative, high-impact initiatives across priority sectors. Through its Sharia-compliant contribution to Oman's largest copper concentrate project, the bank is reinforcing a resilient financial structure, one that balances risk, supports industrial expansion, and aligns with long-term national development imperatives.
Trade Arabia
24-05-2025
- Business
- Trade Arabia
Bank Nizwa extends strategic funding to major Oman copper project
Bank Nizwa, a leading Islamic bank in Oman, has announced its participation in a syndicated financing agreement supporting the development of the sultanate's largest integrated copper concentrate project, led by Mazoon Mining - a subsidiary of Minerals Development Oman (MDO). Bank Nizwa's contribution of $35 million, to the total syndicated financing of $270 million, reinforces the bank's commitment to support transformative national projects through sharia-compliant financing. Formalized during the prestigious Rawabit Forum, hosted by the Oman Investment Authority, the agreement underlines the bank's strong confidence in Oman's mining sector as a driver of sustainable growth for the nation and its broader objective in continued promotion of Sharia-compliant investments contributing to Oman Vision 2040. On the bank's involvement, Saif Al Rawahi, the Acting DGM – Wholesale Banking at Bank Nizwa, said: "Our participation in this pivotal financing agreement is a reflection of our strategic intent to be at the forefront of Oman's economic transformation." "At Bank Nizwa, we view mining as a vital industry in Oman's diversification agenda, offering scalable investment opportunities with strong value multipliers across the national economy. Our financing of this project illustrates our dedication to providing Islamic banking solutions that facilitate industrial growth while upholding principles of sustainability and transparency," stated Al Rawahi. "This initiative also underscores our outlook on Oman's emergence as a competitive player in the global minerals market, particularly in sectors propelled by clean energy transition and technological advancement. As a pioneering Islamic financial institution, we continue to structure forward-looking financing solutions that align with national priorities and elevate the nation's position within the global economic landscape," he added. Mazoon Mining's Copper Concentrate Project represents a strategic convergence of resource potential and sustainable innovation. Positioned to support Oman's vision of becoming a regional leader in copper concentrate production, the project addresses growing global demand for copper - an essential component in renewable energy infrastructure and advanced electronics. With sustainability at its core, the initiative features a zero-liquid-discharge system and state-of-the-art waste management technologies, fully aligned with Bank Nizwa's ESG principles and ethical financing mandate. Through this partnership, Bank Nizwa said it is enabling the development of high-value mining assets that balance global market relevance with local economic and social priorities. The project is also poised to create direct and indirect employment, foster SME participation, and drive broad-based economic growth within the community. Bank Nizwa's participation in this landmark transaction underscores its growing reputation as a trusted partner for transformative, high-impact initiatives across priority sectors, said Al Rawahi. Through its sharia-compliant contribution to Oman's largest copper concentrate project, the bank is reinforcing a resilient financial structure, one that balances risk, supports industrial expansion, and aligns with long-term national development imperatives, he added.
Business Recorder
23-05-2025
- Business
- Business Recorder
New CPF: Pakistan, World Bank agree to develop implementation framework
ISLAMABAD: Pakistan and the World Bank agreed to swiftly develop an implementation framework for effective implementation of the new Country Partnership Framework (CPF) to achieve the expected outcomes alongside solidifying a pipeline of projects for next two years. Federal Minister for Economic Affairs, Ahad Cheema, held a meeting with Anna Bjerde, Managing Director for Operations (MDO) at the World Bank. The minister and MDO discussed measures to improve operational effectiveness of the ongoing portfolio and prospective areas of WB's support in the context of the new CPF of WB for Pakistan. Senior officers from both sides participated in the meeting. The minister appreciated continued support of WB to complement Pakistan's development agenda. He also lauded the proactive support of WB's country office, especially the leadership and facilitation provided by Najy Benhassine, the outgoing country director for Pakistan. The minister highlighted the remarkable economic turnaround achieved by Pakistan in a short span owing to Government of Pakistan's unwavering commitment to comprehensive economic reforms for achieving sustainable macroeconomic stability. The success of reforms and right direction of Pakistan's economic journey is validated by excellent progress on the ongoing Extended Fund Facility (EFF) as well as the recent upgraded credit rating by Fitch. The MDO, WB appreciated the Government of Pakistan for successful engagement with IMF and encouraging signs of economic recovery. She appreciated the leadership of the Prime Minister and the Minister for steering the preparation of the CPF and identifying its priority areas with primary focus on human capital development. She termed the CPF as a pioneering framework which would serve as a model for other members of WB. Both parties agreed to swiftly develop an implementation framework for effective implementation of the CPF to achieve the expected outcomes alongside solidifying a pipeline of projects for next two years. The minister asked WB to focus on social protection graduation programs for the provincial governments. He also highlighted the need to explore options and innovative approaches to reduce cost of energy generation to make it more competitive and affordable for the people. The MDO assured WB's support and technical assistance on both the key areas. The minister and the MDO agreed that the ongoing WB portfolio needs to lay a strong foundation for creating a more enabling environment for the private sector's enhanced contribution to the development process. The meeting concluded on a positive note, with both sides expressing their mutual commitment to a results-driven partnership that contributes meaningfully to improving the lives of the people of Pakistan. Copyright Business Recorder, 2025
Gulf Business
22-05-2025
- Business
- Gulf Business
Why MDO Is Your Best Bet Among High-End Landscaping Companies in Dubai
When it comes to luxury landscaping in Dubai, MDO Landscape and Swimming Pools sets the benchmark for exceptional outdoor living spaces. Renowned as a premier full-service pool and landscape construction company, we create turnkey outdoor environments that are both beautiful and functional. A Philosophy of Simplicity and Refinement At the heart of our philosophy lies the belief that great design thrives in simplicity. By merging bold forms, clean geometry, deliberate repetition, and striking contrasts, we deliver visually stunning landscapes that remain timeless in their appeal. This minimalist approach ensures strong visual connections between outdoor spaces and architectural structures, creating harmony and balance in every setting. From gardens to poolside areas, we execute each element of Expertise That Speaks Volumes We've built a lean, flexible operation that only takes on a limited number of projects, around 8 to 10 at a time, in very specific areas. This allows us to stay hands-on, deliver on time, and provide the highest level of service. Despite having a solid team of nearly 100 people, the founders, Matt and Miguel, stay fully involved from design through execution. When you call, it's the owner who picks up. Design-wise, MDO is known for clean, lush, and luxurious gardens without the clutter. No unnecessary water features or trendy sunken seating. Why? Because we design spaces that last. Every garden is shaped by years of experience and real feedback, tailored to the owner's lifestyle, not just built for a first impression. It's about timeless design that lives beautifully for years to come Turnkey Solutions for Discerning Tastes One of our core strengths is our ability to deliver highly personalised solutions. We ensure that each project reflects the individuality of our clients, transforming outdoor spaces into personal sanctuaries that speak volumes about their owners' lifestyles. From custom swimming pools to lush gardens, our exclusive, detail-oriented approach ensures that no two projects are alike. Our team works closely with clients at every stage of the process, from conceptualisation to completion, placing their vision and preferences at the forefront. Seamlessly Integrating Nature and Architecture Our talent for weaving nature and architecture is unmatched in the industry. The designs we deliver transcend the ordinary, balancing the beauty of natural elements with cutting-edge architectural innovation. By thoughtfully integrating greenery, water features, and contemporary materials, we at MDO Landscape and Swimming Pools create outdoor spaces that captivate and inspire. This seamless integration of elements ensures that each project becomes a natural extension of the indoor environment, fostering a sense of connection and flow. The boundaries between indoors and outdoors dissolve for our clients, leaving behind a single unified masterpiece. Creating Memorable Outdoor Retreats Premium landscaping is all about creating experiences. We understand this and strive to design outdoor spaces that go beyond mere aesthetics. From serene pool decks to lush gardens complete with bespoke lighting and curated plant selections, every detail evokes comfort, relaxation, and a sense of indulgence. By utilising only the finest materials and employing the latest techniques, we ensure that spaces maintain their beauty and functionality for years to come. This commitment to quality and durability is part of what makes us a trusted name in the world of high-end landscaping. Building Relationships That Last Our design philosophy and commitment to client satisfaction sets us apart from other landscaping companies. We take immense pride in building long-lasting relationships with our clients, many of whom return for additional projects. These strong ties testify to the trust and value we consistently deliver through our work. Clients see us as service providers and partners who bring their outdoor dreams to life. This collaborative and customer-centric approach ensures every project is a seamless and enjoyable experience. A Privilege to Serve For us, every project is an opportunity to create something extraordinary. Our team considers it a privilege to bring dream landscapes to life, one project at a time. This dedication to quality has earned us our place among the leading We stand ready to exceed expectations for those seeking to transform their outdoor spaces into exquisite and functional retreats. With our expertise, passion, and commitment to quality, we remain the best bet for creating high-end outdoor living environments in Dubai and beyond. Contact Details: Website: Phone Number: +971 4 5911843 Email:
Zawya
21-05-2025
- Business
- Zawya
Mazoon Mining gets $270mln to develop Oman's largest copper project
Mazoon Mining, a subsidiary of the state-backed Minerals Development Oman (MDO), has secured funding and awarded contracts to develop the country's largest copper concentrate project. The $270 million funding was secured from Sohar Islamic Bank, National Bank of Oman, Qatar National Bank, Bank Nizwa, Ahli Bank, and Ahli Islamic Bank, the company said in a statement. No financial terms of the facility were disclosed. The company signed contracts with ASYAD Group for transport and logistics, Oman National Engineering and Investment Company (ONEIC) for power line and substation works and STRABAG Oman for bulk earthworks. 'The funds cover nearly 60 percent of the total project cost, and the signing of the construction and service packages ensures that work proceeds as per the established schedule,' said Mattar bin Salim Al Badi, CEO of MDO. Located in the Wilayat of Yanqul, Al Dhahirah governorate, the project covers 20 sq km and aims to produce around 115,000 tonnes of copper concentrate annually. Al Badi said that Canada's Lycopodium has been named the Engineering, Procurement, and Construction Management (EPCM) contractor, while equipment supply agreements have been signed with Finland's Metso. (Writing by P Deol; Editing by Anoop Menon) (
