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Abu Dhabi’s ADQ, Omani OIA identify $8B investments in Oman

Abu Dhabi’s ADQ, Omani OIA identify $8B investments in Oman

Arab Finance: Abu Dhabi-based investment and holding company ADQ and the Oman Investment Authority (OIA) have identified investments worth AED 30 billion ($8 billion) in the Sultanate of Oman, Bloomberg reported on September 28th.

Both ADQ and OIA mulled over ways to bolster trade and economic activities as a step to strengthen ties between the UAE and Oman.

This came in the context of the two-day visit by the UAE President Sheikh Mohamed bin Zayed Al Nahyan to Oman.

The two parties are considering new projects across the sectors of hydrogen, solar and wind energies, green aluminum, and steel, along with water and electricity transmission lines.

Moreover, ADQ is looking into investments in food and agriculture, logistics, technology, and healthcare.

It is worth noting that ADQ and OIA recently entered a partnership agreement worth AED 10 billion, under which they will work jointly to invest in Oman.

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