In Collaboration with the Ministries of Health and Finance under a Public-Private Partnership
Al Habsi: The project demonstrates how public-private partnerships can support sectors of national priority
Al Murshidi: We are localizing radiopharmaceutical production and building Omani expertise in this specialized industry
Al Sabti: The project marks a significant step forward in developing nuclear medicine services and expanding the use of advanced medical technologies in disease diagnosis and treatment
As part of its efforts to advance economic diversification, localize advanced industries, and develop promising economic sectors, while strengthening public-private partnerships; Oman Investment Authority (OIA), in partnership with Saudi Arabia’s Oryx Isotopes Company and in collaboration with the Ministries of Health and Finance, has announced the launch of (Nucleus Oman) Project, the first of its kind in the Sultanate of Oman dedicated to producing radiopharmaceuticals for diagnostic and therapeutic applications. Developed under a public-private partnership (PPP) model, the project brings together investment capabilities and industrial and technical expertise to establish a specialized medical industry. It will provide hospitals and healthcare facilities across Oman with a local source of radiopharmaceuticals, supporting the expansion of nuclear medicine services while strengthening health security and contributing to the national economy, in line with the objectives of Oman Vision 2040.
H.E. Sultan Salim Al Habsi, Minister of Finance, affirmed that the signing of the agreement to establish (Nucleus Oman) Project for radiopharmaceutical production reflects Oman’s commitment to strengthening public-private partnerships as a strategic enabler for improving public spending efficiency, stimulating investment, and developing public services. By leveraging the private sector’s financial and operational capabilities and technical expertise, these partnerships play an important role in advancing national development priorities. His Excellency explained that, through its oversight of the Public-Private Partnership Program, the Ministry of Finance seeks to promote greater integration between government institutions and private sector, ensuring the optimal use of resources and maximizing the economic and social value of development projects. He noted that this Project demonstrates how such partnerships can support sectors of national priority by localizing advanced medical industries and enhancing local value added, in alignment with Oman Vision 2040.
H.E. Abdulsalam Mohammed Al Murshidi, President of Oman Investment Authority, said: “Through the establishment of a joint venture with Saudi Arabia’s Oryx Isotopes Company, we are laying the foundation for a specialized industry that directly addresses the needs of the healthcare sector. (Nucleus Oman) Project will build national capabilities in producing the radiopharmaceuticals required by our hospitals for diagnosis and treatment, while ensuring a sustainable local supply. This will be supported by an integrated production facility and a specialized laboratory for calibration and radiation dosimetry. From its inception, we have sought to ensure that this partnership facilitates the transfer of knowledge and technology to Oman, develops national talent in production, calibration, research, and development, and creates opportunities for Omani enterprises to participate in the value chain. Through close collaboration with the Ministries of Health and Finance and our industrial partner, the project translates the government’s economic diversification and advanced industrial localization objectives into a tangible investment that strengthens health security, increases local value added, and positions Oman to serve regional markets in this specialized field.”
H.E. Dr. Hilal Ali Al Sabti, Minister of Health, stated that (Nucleus Oman) Project represents a significant step forward in developing nuclear medicine services in the Sultanate of Oman and unlocks new opportunities to harness advanced medical technologies for disease diagnosis and treatment. He explained that ensuring a sustainable supply of radiopharmaceuticals will support the expansion of specialized diagnostic procedures, improve opportunities for early disease detection, and provide targeted treatment options that enhance patient care pathways and clinical outcomes. His Excellency emphasized that the Project’s importance also lies in establishing specialized infrastructure for radiation calibration and measurement, research and development, and training. These capabilities will support the implementation of the highest quality and safety standards while creating an advanced environment for developing medical practices and equipping Omani professionals with expertise in this highly specialized field. He added that the initiative is expected to expand access to specialized healthcare services and keep pace with rapid advances in precision medicine and targeted therapies, further strengthening Oman’s position as a provider of advanced healthcare services that meet the aspirations of the society and the needs of future generations.
The project will be developed and operated by a joint venture established by Oman Investment Authority and Oryx Isotopes Company, acting as the concessionaire under a long-term public-private partnership agreement with the Ministry of Health. This model combines OIA’s role in developing strategic investments with the Saudi partner’s technical and industrial expertise in radiopharmaceutical production.
The project aims at localizing radiopharmaceutical manufacturing through the establishment of an integrated facility comprising production units for radiopharmaceuticals used in nuclear medicine imaging, including the early detection of cancer, cardiovascular and neurological diseases, and monitoring treatment response. Additional production units will manufacture radiopharmaceuticals for targeted radionuclide therapy. The facility will also include a Secondary Standard Dosimetry Laboratory (SSDL) to calibrate radiation measurement instruments in accordance with international standards, serving radiation measurement and protection requirements across the healthcare and industrial sectors. Dedicated research and development facilities will support the development of new radiopharmaceuticals and targeted therapies.
Local production will help ensure a sustainable supply of radiopharmaceuticals, reduce reliance on imports, and enhance the resilience of the national healthcare system and its ability to respond to current and future needs. This is particularly important given the limited time available for transporting and administering these products due to their radioactive nature. A reliable and consistent supply is expected to enable hospitals and private healthcare providers to expand their nuclear medicine services by reducing challenges associated with product availability and import costs, thereby improving access to specialized healthcare services across Oman.
The project further develops a local value chain spanning production, quality assurance, radiation measurement, research and development, and specialized services. This will create investment opportunities in supporting industries and services. Looking ahead, the potential expansion of production and exports could pave the way for Oman to become a regional hub for radiopharmaceuticals and related services, leveraging its established logistics infrastructure and air connectivity with regional markets.
