Oman signs $3.3 billion in investment deals with Chinese companies

Oman’s sovereign wealth fund, Oman Investment Authority (OIA), has signed its largest-ever package of investment agreements with Chinese institutions and companies in a single day, covering sectors including renewable energy, mining, logistics, digital technology, space, and financial services.

The agreements signal a shift in Oman-China economic relations from traditional trade towards joint investments, industrial development, technology transfer, and long-term capital partnerships.

The deals were signed during Sultan Haitham bin Tarik’s state visit to China, the first visit by an Omani ruler to the country, aimed at strengthening bilateral economic ties and supporting industrial development and economic diversification.

OIA signed an agreement with China’s Silk Road Fund to establish an $800 million joint investment fund, with most of the capital allocated to Oman. It also agreed to establish a $300 million fund with China Merchants Bank.

Additional partnerships with IDG Capital, Templewater, and EW Partners involve $735 million in investments across clean energy, digital technology, smart manufacturing, and utilities.

OIA President Abdulsalam Al Murshidi said the agreements reflect the evolution of Oman-China relations towards investment partnerships that support economic diversification, emerging industries, job creation, and knowledge transfer.

He added that most projects would be developed in Oman, bringing investment, technology, manufacturing capabilities, and specialized expertise into the country while connecting local businesses with international production and distribution networks.

In the energy sector, Nama Holding and State Grid International Development agreed to develop battery storage projects worth around $1 billion, with a combined capacity of 1 gigawatt. O-Green and Shanghai Electric Wind Power Group also partnered to develop wind energy capabilities in Oman, including an R&D center and turbine testing facility in Duqm, alongside green ammonia projects.

In mining, Minerals Development Oman awarded Hongda International a $418.7 million, 10-year contract for the Mazoon Copper and Gold Project. A separate $100 million partnership will combine solar energy development with local inverter manufacturing.

Logistics partnerships include an agreement between Asyad Group and JD.com to develop facilities at Muscat Airport Free Zone, Khazaen Economic City, and Sohar Free Zone, strengthening Oman’s links to GCC and East African markets.

In technology, agreements cover the government’s digital transformation program, while Omantel signed an MoU focused on deploying Ascend neural processing units and high-performance computing infrastructure.