ADQ and OIA identify AED 30 billion investment opportunities

ADQ and OIA identify AED 30 billion investment opportunities

ADQ, an Abu Dhabi-based investment and holding company, and Oman Investment Authority (OIA) have entered into an AED 10 billion partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority and interest. The parties identified preliminary investments to be assessed further that are worth over AED 30 billion in new projects within Oman across target sectors including hydrogen, solar and wind power generation, green aluminium, and steel, as well as water and electricity transmission lines. ADQ is also exploring investment in other sectors that include but are not limited to food & agriculture, logistics, technology, and healthcare. This is in line with ADQ’s ambitions to expand its power, water, and industrial platforms throughout Oman to capture synergies that achieve long-term and sustainable value creation for both nations.

Additionally, ADQ and Oman Information, Communication and Technology Group (ITHCA), a wholly owned subsidiary of the OIA, signed an MoU to establish an AED 592 million venture capital fund to invest in high growth technology companies in the Sultanate of Oman.