ADQ and Oman Investment Authority Identify Investment Opportunities in Oman Worth AED 30 Billion
ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with the Oman Investment Authority (OIA).
ADQ and OIA recently signed an AED 10 billion partnership agreement to boost investments between the UAE and Oman in mutually beneficial industries.
In addition, ADQ and Oman Information, Communication, and Technology Group (ITHCA), an OIA-owned subsidiary, struck an agreement to establish an AED 592 million venture capital fund to invest in high-growth technology companies in the Sultanate of Oman.
The parties also identified preliminary investments worth more than AED 30 billion in new projects in Oman across target areas such as hydrogen, solar and wind, green aluminium and steel, and water and electricity transmission lines that would be evaluated further.
ADQ is also looking at investing in other industries, such as food and agriculture, logistics, technology, and healthcare. It aligns with ADQ's goals to develop its power, water, and industrial platforms throughout Oman to capture synergies that result in long-term and sustainable value creation for both nations.
H.E. Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer at ADQ, said:
“As part of the UAE’s longstanding bilateral relationship with Oman, we discussed several potential strategic opportunities that can unlock significant synergies and value through collaboration across key industries in the Sultanate. Today’s engagement builds on our recent efforts and commitment to developing tangible investment partnerships in key markets, such as Oman, that complement our investment strategy and growth aspirations. We are confident that this visit reinforces the significant economic potential of ADQ’s partnership with OIA.”
Abdulsalam Al Murshidi, President of Oman Investment Authority (OIA), said:
“Our partnership with a like-minded institution, such as ADQ, showcases our shared commitment to building long-term sustainable relationships. Our discussions today will not only create a platform to enable us to explore mutually beneficial co-investment opportunities but facilitate knowledge sharing to strengthen our respective organisations’ investment platforms.”
Through its Sovereign Investment Partnerships platform, ADQ, as a strategic partner to the government, implements value-adding co-investment projects with key regional partners. These collaborations accelerate investments that create mutual value across ADQ and its portfolio businesses.
Source: Construction Business News
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