Oman Investment Authority-owned fund has announced OR832m ($2.2bn) of investment projects in partnership with local companies and international investors.
The Oman Future Fund includes foreign investments worth OR609m ($1.6bn).
While the fund’s investment in the projects amounted to OR220m ($572m). These projects are expected to generate more than 1,600 direct job opportunities.
The projects cover 10 different vital sectors in the Sultanate of Oman.
Mulham Bashir Al Jarf, Deputy Chairman of Oman Investment Authority, said that the projects reflect the Authority’s efforts to achieve the strategic objectives of Oman Future Fund.
He added that they focus on stimulating and developing the local economy, advancing the targeted economic sectors, and integrating with the private sector.
This is in addition to attracting foreign investments and generating business opportunities for small and medium enterprises and start-ups.
The Fund saw a great turnout from local and foreign investors, with more than 210 applications.
The direct projects category includes three projects, namely:
The United Solar Factory in the Sohar Free Zone is one of the largest factories in the world and the first of its kind in the Middle East in the polysilicon industry. It contributes to the development of downstream renewable energy industries, including the solar panel industry, with a production capacity of 100,000 tons per year.
The second project is the IDG Oman Investment Fund. It partners with the Chinese IDG Capital Fund, which has long experience in diversified investments. The fund will invest in the Sultanate of Oman in partnership with promising Chinese companies focusing on information and communications technology, renewable energy, and electric vehicles.
The EWTP Oman Fund comes in partnership with the Chinese EWTP Capital Fund. It targets investment in the Omani market in partnership with promising Chinese companies with a focus on information and communications technology, energy, tourism, and agriculture.
