UAE’s ADQ, Oman Investment Authority identify investment opportunities worth $8bln in Oman

UAE’s ADQ, Oman Investment Authority identify investment opportunities worth $8bln in Oman

ADQ, an Abu Dhabi-based investment and holding company, and Oman Investment Authority (OIA) have identified preliminary investment opportunities worth over AED30 billion ($8.17 billion) in new projects within Oman.

ADQ and OIA officials discussed areas of joint investment collaboration on the sidelines of the visit of UAE President HH Sheikh Mohamed Bin Zayed Al Nahyan to Oman, said a statement.

The investment opportunities are across a variety of sectors including hydrogen, solar and wind power generation, green aluminum, and steel, as well as water and electricity transmission lines.

ADQ and OIA recently entered into an AED10 billion partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority and interest.

Additionally, ADQ and Oman Information, Communication and Technology Group (ITHCA), a wholly owned subsidiary of the OIA, signed an MoU to establish an AED592 million venture capital fund to invest in high growth technology companies in Oman.

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.

Mohamed Hassan Alsuwaidi,