UAE, Oman establish investment partnerships worth AED129 billion to deepen multi-sectoral cooperation

UAE, Oman establish investment partnerships worth AED129 billion to deepen multi-sectoral cooperation

A UAE-Oman Business Forum took place today, which saw the announcement of multiple agreements worth AED129 billion. The event was held on the sidelines of the visit of His Majesty Sultan Haitham bin Tariq, Sultan of Oman, to the UAE.
Present at the forum were H.H. Sheikh Hamed bin Zayed Al Nahyan; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Mohamed Hassan Al Suwaidi, Minister of Investment; Ahmed Ali Al Sayegh, Minister of State; Ammar Al Kharusi, CEO of Invest Oman; Sheikh Bader Al Hinai, Media and Communications Chief at Oman Investment Authority (OIA); Abdulaziz Al Shidhani, Managing Director of Hydrom; and a number of officials and business leaders from both countries.
The agreements span renewable energy; green metals; railway connectivity; and investments in digital infrastructure and technology, in line with the agreements signed between the UAE's Ministry of Investment and Oman's Ministry of Commerce and Industry and Investment Promotion. These included:
1- An industrial and energy megaproject valued at AED117 billion, encompassing renewable energy initiatives, including wind such as solar and wind projects, alongside green metals production facilities. The signatories included Abu Dhabi National Energy Company (TAQA); Abu Dhabi Future Energy Company (Masdar); Emirates Global Aluminium (EGA); Emirates Steel Arkan