The Dh10 billion investment alliance between Abu Dhabi holding company ADQ and Oman Investment Authority will go after a number of different sectors. ADQ made a separate deal with Oman’s Information, Communication, and Technology Group, a wholly-owned subsidiary of OIA, for a Dh592 million venture capital fund to invest in high-growth tech companies in Oman.
They also found “preliminary investments” worth more than Dh30 billion that need to be evaluated further in new projects in Oman in areas like hydrogen, solar and wind power, green aluminium and steel, and water and power transmission lines. ADQ is also looking into investing in “other sectors” like food and agriculture, logistics, technology, and healthcare, among others.
This fits with ADQ’s plans to grow its platforms for power, water, and industry all over Oman.
ADQ’s Managing Director and CEO, Mohamed Hassan Alsuwaidi, said, “We talked about a number of possible strategic opportunities that can create significant synergies and value by working together across key industries in the Sultanate. Today’s engagement builds on our recent efforts and commitment to build real investment partnerships in key markets like Oman that fit with our investment strategy and growth goals.
Through its Sovereign Investment Partnerships platform, ADQ works with key regional partners to create value through co-investment programs. This is because ADQ is a strategic partner of the Abu Dhabi government.
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