Oman and UAE agree green hydrogen investment

Consultative meetings were arranged between the Oman Investment Authority (OIA) and many of its enterprises and their UAE counterparts to discuss the prospective investment opportunities available in a variety of areas.

Coinciding with the visit of UAE President His Highness Sheikh Mohamed bin Zaid and his meeting with Sultan Haitham bin Tariq, this is in keeping with the goals set by the two nations’ respective top leaders. Several agreements and memorandums of understanding were signed at the conclusion of these sessions, further strengthening the economic and commercial ties between the two countries.

An agreement between OIA and ADQ worth 1 billion OMR has been signed, which might encourage investment in important industries in both nations. In addition, the two sides decided to move forward with the feasibility studies after identifying initial investment prospects totaling OMR 3 billion. These openings are for new projects in the Sultanate of Oman’s designated industries, such as hydrogen energy, wind energy, aluminum, green steel, water and power generation and transmission lines, agriculture, healthcare, transportation, services, and logistics.

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