ADQ, OIA to pursue wind, photo voltaic, hydrogen investments in Oman

September 29 (Renewables Now) – Abu Dhabi-based funding firm ADQ and Oman Funding Authority (OIA) have recognized preliminary investments price over AED 30 billion (USD 8.16bn/EUR 8.42bn) in new tasks throughout Oman in areas resembling hydrogen, photo voltaic and wind, inexperienced aluminum and metal and others.

The 2 events agreed to proceed with feasibility research on the tasks in focused sectors, the state-owned OIA stated on Wednesday.

Aside from the aforementioned areas, funding alternatives have been found additionally within the water and electrical energy manufacturing and transmission traces, meals, well being and prescribed drugs, transportation and providers, and infrastructure and logistics.

The discussions on the potential for investments within the sultanate passed off on the sidelines of the go to of UAE’s president Sheikh Mohamed bin Zaid and his assembly with Sultan Haitham bin Tariq.

OIA’s president Abdul Salam Al-Murshidi identified that this displays OIA’s efforts to draw overseas investments to the sectors recognized by the tenth 5-12 months Growth Plan which is “anticipated to make important strides in financial diversification and enhance the full revenue of the Omani financial system”.

(AED 1.0 = USD 0.272/EUR 0.280)

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