Partnerships and Investments Span Energy, Mining, Logistics, Digital Transformation, Space Technologies and Financial Services
Abdulsalam Al Murshidi: We Have Transformed Existing Trade Cooperation with China into Investment Partnerships, with Most Projects Based in Oman
Reinforcing its role in advancing economic diplomacy and expanding its global presence, Oman Investment Authority (OIA) announced the signing of the largest package of economic and investment agreements and partnerships in a single day in its history, worth billions of dollars, with Chinese institutions and companies. The agreements encompass the establishment of joint funds, expanded investment cooperation, the attraction of industrial and technology projects to the Sultanate of Oman, and the localization of advanced industries. They were signed during the Oman–China conference, “Investment Partnership Horizons” organized by OIA in conjunction with the state visit of His Majesty Sultan Haitham bin Tarik—may Allah protect and preserve him—to the People’s Republic of China.
The agreements signed by OIA, a number of OIA Companies and Omani institutions with their Chinese counterparts cover several promising sectors, including renewable energy and related industries, mining, logistics, digital transformation and space technologies, as well as banking cooperation, trade and project finance, direct investment and asset management. The agreements support OIA’s approach to building long-term partnerships that combine economic viability with maximizing value added to the national economy. They also reflect OIA’s role in advancing economic diplomacy by leveraging international partnerships to broaden investment cooperation, strengthen Oman’s presence in global markets and connect international opportunities with national economic priorities. They further aim to attract capital and technologies to Oman, localize industrial activities and specialized services, transfer knowledge, develop national capabilities, expand cooperation between Omani and Chinese companies, and connect domestic projects with international production and distribution networks and overseas markets.
H.E. Abdulsalam bin Mohammed Al Murshidi, President of Oman Investment Authority, said that OIA had succeeded in transforming existing trade cooperation with China into investment partnerships, most of these projects are being established in Oman. China has thus become Oman’s largest trading partner in modern technologies, solar and wind energy, and technologies used in advanced industries, contributing to the diversification of the Omani economy in line with Oman Vision 2040, job creation and increased trade. H.E. explained that recent years have witnessed a major qualitative shift in the areas of cooperation with China. Previously, cooperation focused on buying and selling oil and gas, before expanding into construction through Chinese companies working on various projects in Oman. Today, it has evolved into joint investments between the two countries, most of them within Oman, through vital economic projects that contribute to diversification and the localization of future industries. He noted that the historic agreements signed during His Majesty’s visit lay the foundation for a new phase of investment partnership between the two countries and open broad opportunities for growth, expansion and knowledge exchange for OIA, its companies and other Omani businesses.
As the first visit by an Omani Sultan to China, His Majesty’s visit gives fresh momentum to bilateral relations and opens wider prospects for economic and investment partnership, building on historical ties and growing cooperation across multiple fields. In this context, the Oman–China conference, “Investment Partnership Horizons” organized by OIA in cooperation with Bank of China and China Investment Corporation, provided a platform for direct engagement between investment and financial institutions and businesses from both countries. Participants included representatives of government entities, sovereign wealth funds, investment institutions, state-owned and sovereign companies, and businesses operating in diverse economic sectors. The forum showcased promising investment opportunities in Oman, its competitive advantages and strategic position as a gateway to regional and global markets. It also provided an opportunity to explore cooperation, exchange expertise and develop strategic partnerships that attract investments and technologies, expand the presence of Chinese companies in Oman and open new opportunities for Omani companies in the Chinese market.
Among the key partnerships, OIA signed a preliminary term sheet with China’s Silk Road Fund to establish a joint fund of OMR 307.6 million (USD 800 million). The majority of the fund will be invested in Oman, with the remainder allocated to China and emerging markets. The fund will expand joint investment across multiple sectors while allocating a substantial share to the Omani market, supporting the attraction of projects and capital into the national economy.
OIA also signed a preliminary term sheet with China Merchants Bank to establish a second investment fund worth OMR 115.35 million (USD 300 million), with equal funding from both parties. This builds on the successful partnership launched with the establishment of the first fund in 2019, of the same value, to invest in China’s technology sector and advanced industries, reinforcing continuity in cooperation and expanding investment opportunities.
Cooperation with China Investment Corporation (CIC) included signing a memorandum of understanding establishing a framework for exchanging, assessing and jointly pursuing investment opportunities in Oman and the People’s Republic of China. This cooperation provides a pathway to expand partnerships with international investment institutions, including existing joint investments by the two parties in Turkey and a joint investment fund in Central Asia and the Caucasus, while accessing opportunities across various markets by leveraging their expertise and networks.
In energy and related industries, OIA signed a preliminary term sheet with PCG and Hoymiles for a partnership worth OMR 38.45 million (USD 100 million). It aims to develop solar energy projects in Oman and establish a solar inverter manufacturing facility serving the business sector in the Middle East and North Africa. The proposed partnership combines energy project development with localization one of its industrial component, thereby expanding opportunities for local production and exports to regional markets.
OIA also signed two memorandum of understanding with Bank of China (BOC) and China International Capital Corporation Limited (CICC) to strengthen investment relations and cooperation and localize investments in Oman. It additionally signed an MoU with China International Marine Containers (CIMC) to expand the company’s presence in Oman and leverage its expertise in transport and logistics solutions and its international networks.
The cooperation agreements extended to fund management and corporate investment partners, including IDG Capital, which established a fund with OIA worth OMR 76.9 million (USD 200 million) in Oman, equally financed by both parties. The fund will connect Chinese companies with investment opportunities across sectors in the Omani market, creating a channel to attract businesses and facilitate their expansion in Oman.
Cooperation also included Templewater, which established with OIA a fund worth OMR 76.9 million (USD 200 million) in Oman, with equal funding, as part of an overall partnership worth OMR 99.97 million (USD 260 million). The partnership seeks opportunities in energy companies, particularly clean energy, alongside an investment of OMR 23.07 million (USD 60 million) in Oman through the Templewater Innovation Fund, in which OIA invested in cooperation with Hong Kong’s Innovation and Technology Commission. The fund focuses on the technology sector in China and Hong Kong.
The agreements also included cooperation with EWP Partners, which established with OIA a fund worth OMR 96.12 million (USD 250 million) in Oman, in addition to allocating part of its regional fund for investment in Oman, bringing the total partnership to approximately OMR 105.74 million (USD 275 million). The cooperation aims to attract Chinese investments and facilitate their localization in digital technology, smart manufacturing and energy, including renewable energy, utilities and related technology solutions. The package also included a cooperation agreement with HongShan, formerly known as Sequoia China, which specializes in venture capital and direct investment in the technology sector.
In digital transformation, the package included two MoUs involving the Ministry of Transport, Communications and Information Technology and Oman Telecommunications Company (Omantel) with WPS companies. The first concerns cooperation on the government digital transformation program, while the second addresses the installation of Ascend neural processing units—specialized chips and high-performance computing accelerators—to support the development of technical capabilities and infrastructure required for advanced applications, subject to the scope and implementation requirements of the cooperation.
In the space sector, the partnerships included two cooperation agreements between Oman Lens, a leading satellite and artificial intelligence company, and Star.Vision Aerospace. The first establishes a five-year joint program to sponsor 30 Omanis for master’s and PhDs in China, train 1,000 Omani specialists and establish a joint space AI laboratory, with the aim of transferring knowledge, localizing technology and building national capabilities.
The second agreement, relating to the Space Silk Road program, covers cooperation to develop, launch and operate satellites in two phases. The first phase comprises seven satellites; subject to its success, a second phase involving additional satellites will be assessed. The agreement also provides for establishing a satellite assembly, integration and testing center in Oman, transferring technology, training Omani talent and progressively developing local manufacturing.
In logistics, the package included a cooperation agreement between Asyad Group and JD.com to develop warehousing and logistics solutions and facilities in Oman, beginning with three distribution warehouses at Muscat Airport Free Zone, Khazaen Economic City and Sohar Free Zone. The cooperation also covers connecting the parties’ networks to serve GCC and East African markets, and exploring digital solutions, automation and technological applications to improve operational and supply-chain efficiency.
In mining, the package included an integrated mining services contract between Minerals Development Oman and Hongda International for the Mazoon Copper and Gold Project in Wilayat Yanqul, worth OMR 161 million (USD 418.7 million) over ten years. The contract covers open-pit mining operations, from drilling, loading and hauling to ore supply, the transport of waste rock and dry-processing tailings, road construction, quality-control drilling, and provision of accommodation and facilities required for the works.
In energy storage, the package included a framework agreement between Nama Holding and State Grid International Development Limited to cooperate on battery energy storage systems worth approximately OMR 384.5 million (USD 1 billion) in Duqm and Ibri, with a combined capacity of 1 gigawatt, connected to the national electricity transmission network. The two projects will enhance network stability, reliability and operational efficiency and support the integration of renewable energy sources in line with Oman Vision 2040.
In renewable energy, O-Green and Shanghai Electric Wind Power Group signed a comprehensive strategic partnership agreement to reinforce Oman’s position as a leading regional hub for wind energy engineering and industrial development. The agreement also provides for a joint research and development center and a wind turbine testing site affiliated with the Mawarid Turbines factory in Duqm, drawing on the company’s leading experience at other locations worldwide. Efforts will focus on adapting existing turbines to the climatic and environmental conditions of GCC countries and developing a new technology platform that supports local manufacturing and the localization of related industries.
The partnership also includes indicative investments of USD 10–20 million in research and development activities, potentially enabling future contractual opportunities exceeding USD 1 billion. Cooperation further extends to developing green ammonia projects in Oman and examining preliminary investment opportunities in the sector valued at more than USD 200 million.
These agreements, building on OIA’s established investment presence in the Chinese market, are expected to provide new momentum to relations between the two countries and open wider prospects for economic and investment partnership. They translate closer ties into investment opportunities and projects that support national economic diversification and expand cooperation with Chinese institutions to strengthen priority sectors.
