ADQ and OIA identify investment opportunities worth AED 30 billion  

ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority (“OIA”), across a variety of sectors aimed at contributing to increased economic cooperation and trade between both nations. This comes on the sidelines of the President of the UAE’s visit to Oman. 

ADQ and OIA recently entered into an AED 10 billion (approx. USD2.7 billion) partnership agreement to facilitate investments between the UAE and Oman in sectors of mutual priority and interest.  

Additionally, ADQ and Oman Information, Communication and Technology Group (“ITHCA”), a wholly owned subsidiary of the OIA, signed an MoU to establish an AED 592 million (approx. USD161 million) venture capital fund to invest in high growth technology companies in the Sultanate of Oman. 

OIA Company ASYAD Group, through its subsidiary Oman Rail, signed an agreement with Etihad Rail to establish Oman Etihad Rail Co, a joint venture project to design, develop, and operate rail networks linking Sohar to Abu Dhabi with a 303 km line. 

OIA Company Muscat Stock Exchange (“MSX”) signed three MoUs with Abu Dhabi Securities Exchange (“ADX”). The first revolves around setting up effective channels of mutual cooperation and integration between the two sides. The second MoU stipulated a joint listing between MSX and Muscat Clearing and Depository (“MCD”) to ensure the availability of regulated financial securities markets for stock trading through domestic and foreign markets. The third MoU set forth the blueprint for the trading of remote brokerage firms through an electronic trading system 

The parties also identified preliminary investments to be assessed further that are worth over AED 30 billion (approx. USD 8.2 billion) in new projects within Oman across target sectors including hydrogen, solar and wind, green aluminum and steel, as well as water and electricity transmission lines.  

Legal teams are led by ADQ’s general counsel Peter Howley (pictured left) and OIA’s director of legal and general counsel Adrian Woodcock (pictured right).