Today, ADQ Holding, an investment holding company in the Emirate of Abu Dhabi, held consultative meetings with the Oman Investment Authority (OIA), the sovereign fund of the Sultanate of Oman to discuss promising investment opportunities in a variety of sectors that contribute to increasing economic and trade cooperation between the two countries.
The meeting came on the sidelines of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him”, to the Sultanate of Oman.
Both the Holding Company (ADQ) and the Oman Investment Authority revealed a partnership agreement worth 10 billion dirhams, through which the two parties aim to enable investments in sectors of priority and common interest between the UAE and the Sultanate of Oman.
The Holding Company (ADQ) and the Omani Communications and Information Technology Group (ITHCA), owned by the Oman Investment Authority, also signed a memorandum of understanding to establish an investment capital fund of 592 million dirhams to invest in technology companies with high growth potential in the Sultanate of Oman.
In this context, the two parties identified initial investment opportunities worth more than 30 billion dirhams, provided that feasibility studies are prepared for each of them.
The investment opportunities lie in the new projects within the targeted sectors in the Sultanate of Oman, including the hydrogen sector, solar and wind energy generation, aluminum and green steel, transmission lines and the production of water and electricity. It also aspires to invest in food, health and medicine, transport, services and logistical infrastructure. and technology in the Sultanate of Oman, all of which are in line with the ambitions of ADQ Holding to expand the scope of its companies operating internationally, especially in the Sultanate of Oman, and identify synergies that will add long-term sustainable value to both countries.
His Excellency Mohammed Hassan Al Suwaidi, Managing Director and CEO of the Holding, said: “Within the framework of strengthening the solid historical ties that unite the UAE and the Sultanate of Oman, we discussed many strategic opportunities that would enhance joint cooperation, stimulate the spirit of synergy and enable more investments in many areas. The main sectors in the Sultanate.Our participation today confirms the commitment of the “Holding” to developing solid investment partnerships in key markets such as the Omani market, as this step comes as an extension of our investment approach and our aspirations to achieve sustainable growth.We are confident that this partnership will enhance the great economic potentials between the “Holding” and the SAI Omani investment.
For his part, His Excellency Abdul Salam Al Murshidi, Chairman of the Oman Investment Authority, said: “With this cooperation with the Holding Company (ADQ), we are committed to building long-term strategic and sustainable relationships. Our cooperation today will not be limited to creating a platform that enables us to explore joint investment opportunities and achieve mutual benefit only. It will also make it easier for us to share knowledge to enhance existing investment platforms in our organizations.”
As a strategic partner of the Government of the Emirate of Abu Dhabi, the “Holding” intends to implement joint investment programs with cumulative value with key regional partners through the sovereign investment platform. These partnerships will support and enhance investments that create shared value within the business of the “Holding” and its portfolio companies.
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