The United Arab Emirates and Oman signed on Tuesday $35 billion worth of investment partnerships in renewable energy, green metals, railways, and digital infrastructure and technology during the state visit of Oman’s Sultan to the UAE. The memorandums of understanding establish investment partnerships between the UAE and Oman worth a combined $35 billion 129 billion UAE dirhams to deepen cooperation across multiple sectors, the UAE’s Ministry of Investment said in a statement.
The signatories included Abu Dhabi National Energy Company TAQA, Abu Dhabi Future Energy Company MASDAR, Emirates Global Aluminium EGA, Emirates Steel Arkan ESA, OQ Alternative Energy, and Oman Electricity Transmission Company. “The agreements represent a major milestone in our bilateral ties, as they pave the way for us to leverage our collective strength to realize our shared vision of advancement and prosperity,” said Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE.