Oman Sovereign Wealth Fund Signs Landmark Investment Deals with Chinese Institutions

The Oman Investment Authority (OIA) has signed a package of investment agreements with Chinese institutions and enterprises in Beijing during an official state visit by Omani Sultan Haitham bin Tarik. The deals cover multiple sectors, including renewable energy, logistics, mining, digital technology, space, and financial services.

Under the financial agreements, OIA and China's Silk Road Fund established an $800 million joint investment fund, with the majority of capital designated for projects in Oman. OIA also formed a $300 million fund with China Merchants Bank, alongside partnerships with IDG Capital, Templewater, and EW Partners totaling an additional $735 million for clean energy, digital technology, smart manufacturing, and utilities.

In the energy and industrial sectors, Nama Holding and State Grid International Development agreed to cooperate on $1 billion worth of battery energy storage projects with a combined capacity of 1 gigawatt. O-Green and Shanghai Electric Wind Power Group signed a strategic partnership covering wind engineering, green ammonia development, and a research and testing facility in Duqm. Minerals Development Oman awarded Hongda International a 10-year, $418.7 million contract for the Mazoon Copper and Gold Project, alongside a $100 million solar and inverter manufacturing initiative.

Logistics and technology partnerships were also concluded. Oman's Asyad Group partnered with JD.com to build logistics facilities across Muscat Airport Free Zone, Khazaen Economic City, and Sohar Free Zone. In telecommunications, Omantel signed an MoU to deploy Ascend neural processing units and high-performance computing infrastructure, alongside an MoU on Oman's government digital transformation programme.