UAE ADQ investment fund signed an agreement with Oman Investment Authority (OIA) , valued at $271 million.
In addition, ADQ and Oman Information, Communication, and Technology Group (ITHCA), an OIA-owned subsidiary, struck an agreement to establish a $161 million (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 $8 billion (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
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), added, “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.”
