Oman Investment Authority signs multi-billion-dollar agreements with Chinese partners across energy, mining, logistics, digital technology and space, supporting economic diversification and technology localisation.
Oman Investment Authority (OIA) has signed its largest-ever investment package with Chinese institutions and companies, covering multi-billion-dollar agreements across renewable energy, mining, logistics, digital technology, space and financial services. The agreements were signed during the state visit of Sultan Haitham bin Tarik to China, marking a new phase in economic cooperation between the two countries.
The investment package aims to strengthen bilateral investment partnerships, attract international capital and technology into Oman, and support the country's economic diversification strategy. Most of the proposed projects are planned for Oman, with an emphasis on localising industrial activities, transferring technology, developing specialised capabilities and creating opportunities for domestic businesses.
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Among the major agreements, OIA signed an arrangement with China's Silk Road Fund to establish an US$800 million joint investment fund, with the majority of its capital expected to be invested in Oman. It also signed an agreement with China Merchants Bank to establish a separate US$300 million investment fund, with equal contributions from both parties. Additionally, partnerships with IDG Capital, Templewater and EW Partners represent another US$735 million targeting clean energy, digital technology, smart manufacturing and utilities.
Energy infrastructure represents another significant component of the package. Nama Holding and China's State Grid International Development agreed to cooperate on battery energy storage projects with a combined capacity of 1 gigawatt (GW), supported by an estimated investment of approximately US$1 billion. The projects are intended to strengthen electricity storage capacity and support the integration of renewable energy into Oman's power network.
In the wind energy sector, O-Green and Shanghai Electric Wind Power Group signed a strategic partnership to develop wind-energy engineering and industrial capabilities. The collaboration includes plans for a research and development centre and turbine testing facility in Duqm, alongside cooperation in green ammonia. In solar energy, a separate US$100 million partnership will support renewable energy projects and the manufacturing of solar inverters in Oman.
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Mining and logistics also feature prominently. Minerals Development Oman awarded Hongda International a US$418.7 million, 10-year contract for the Mazoon Copper and Gold Project. Meanwhile, Asyad Group and China's JD.com will explore logistics facilities at Muscat Airport Free Zone, Khazaen Economic City and Sohar Free Zone to strengthen connections with Gulf Cooperation Council and East African markets.
The agreements further cover government digital transformation, high-performance computing infrastructure and space technology. A space cooperation programme includes training 1,000 Omani specialists, sponsoring 30 postgraduate students in China and establishing a joint space artificial intelligence laboratory.