UAE and Oman establish investment partnerships worth AED129 billion across energy, digital, railways
Information technology, Rest of GCC

UAE and Oman establish investment partnerships worth AED129 billion across energy, digital, railways

On the sidelines of the visit to the UAE by His Majesty Sultan Haitham bin Tariq, Sultan of Oman, a UAE-Oman business forum was organised, unveiling several investment memorandums and partnerships agreements across multiple sectors. The total value of these agreements amounts to AED 129 billion.

The investment agreements include industrial and energy megaproject valued at AED117 billion, encompassing renewable energy initiatives such as solar and wind projects, alongside green metals production facilities; agreement to establish a technology-focused fund between ADQ and Oman Investment Authority, worth AED 660 million; agreement to award contracts for a UAE-Oman rail connectivity project, valued at AED 11 billion; mutual investment cooperation covering digital infrastructure, food security, energy, transport; agreement between Etihad Rail, Mubadala and Asyad Group of Oman. The total estimated value of the investment is AED 3 billion

His Highness Sheikh Hamed bin Zayed Al Nahyan was present at the meeting, along with His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure; His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE; His Excellency Ahmed bin Ali Al Sayegh, Minister of State; and Engineer Ammar bin Sulaiman Al Kharusi, CEO of Invest Oman.

Also in attendance were Sheikh Badr bin Abdullah Al Hinai, Chief of Media and Communications at Oman Investment Authority; Engineer Abdulaziz bin Saeed Al Shidhani, CEO of Green Hydrogen Company, Hydrom; and other officials and businesspeople from both sides.

The investment agreements span renewable energy, green metals, railway, and digital infrastructure and technology investments, furthering the commitments outlined in the agreements between the Ministry of Investment of the UAE and the Ministry of Commerce, Trade and Investment Promotion of the Sultanate of Oman.

 

December 16, 2023

Leave a Reply

Your email address will not be published. Required fields are marked *

Flickr

No matter how powerful, countries cannot rule the whole world. The world is ruled by brains, by justice, by morals and by fairness. Abdullah of Saudi Arabia

Abdullah of Saudi Arabia
ABOUT

News Saudi Wire is a content portal, publication, and event organiser, launched with the objective of partnering with businesses, consultants and technology vendors to enable the process of digital transformation and business restructuring for the digital age.

Tel : +966500467505
Email : hello@newswiresaudi.com
Address : Elite Stars for Marketing Services,
Level 1, Building No. 7, Zone A,
Airport Road, Business Gate,
P.O Box 93597 Riyadh 11683, KSA