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The scale of the combined investments could cross Dh30 billion in the medium-term, according to the partners. Image Credit: Supplied

Dubai: Abu Dhabi holding company ADQ and Oman Investment Authority will target multiple sectors through the Dh10 billion investment alliance. ADQ entered a separate deal with Oman’s Information, Communication and Technology Group, a wholly-owned subsidiary of OIA, for a Dh592 million VC fund to invest in high-growth tech companies in Oman.

They also identified ‘preliminary investments’ to be assessed further worth over Dh30 billion in new projects within Oman across target sectors such as hydrogen, solar and wind, green aluminum and steel, as well as water and electricity transmission lines. ADQ is also exploring investment in ‘other sectors that include but are not limited to food and agriculture, logistics, technology, and healthcare’.

This is in line with ADQ’s ambitions to expand its power, water, and industrial platforms throughout Oman.

Mohamed Hassan Alsuwaidi, Managing Director and CEO at ADQ, said: “We discussed several potential strategic opportunities that can unlock significant synergies and value through joint collaboration across key industries in the Sultanate. Today’s engagement builds on our recent efforts and commitment to develop tangible investment partnerships in key markets, such as Oman, that complement our investment strategy and growth aspirations.”

As a strategic partner to the Abu Dhabi government, ADQ undertakes value creating co-investment programs with key regional partners through its Sovereign Investment Partnerships platform.