Future Fund Oman (FFO), a portfolio of the sultanate's sovereign wealth fund Oman Investment Authority (OIA), has announced a new package of 105 strategic projects and investments worth $1.74 billion, as the sultanate accelerates its economic diversification.
The portfolio combines $585 million in commitments from FFO with around $458 million in local investment, spanning renewable energy, advanced manufacturing, tourism, healthcare, medical technologies, innovation and food industries.
The portfolio's most internationally significant bets place Oman inside global supply chains. Its flagship, Orion Solar, will build an integrated solar cell and module facility in Sohar Freezone with annual capacity of six gigawatts, the first of its kind in the Middle East and a cornerstone of localising the solar value chain.
Alongside it, Gallant Industrial Project will produce 66,000 tonnes a year of lithium iron phosphate cathode material, a core component of electric vehicle batteries, linking the Sultanate to the fast-growing clean-energy and storage markets, it stated.
"This portfolio directs capital toward nationally prioritized sectors and strengthens Oman's appeal to global investors," remarked Mulham Al Jarf, the Deputy President of Investment at the OIA.
Established in 2024 with a capital of $5.2 billion to stimulate economic recovery in Oman following Covid-19, the Fund continues to build specialised partnerships that bring global expertise and knowledge transfer to priority sectors across the Sultanate of Oman.
Al Jarf said the Fund has worked to establish itself as an economic catalyst and a trusted investment partner.
The Fund is also building capacity across tourism, technology and food security. It is backing the As' Sodah Island Resort, an integrated development spanning roughly 10km of pristine coastline, and Terminal 11, Oman's first integrated innovation hub, which brings startups, venture capital and researchers under one roof.
Further investments span Alma, an animal-nutrition manufacturer drawing on Oman's marine and pastoral resources, and XCyber, a sovereign cybersecurity company using artificial intelligence to protect critical national infrastructure under the joint fund between new partners and FFO.
The package also draws marquee international capital into the country. FFO committed $200 million each to Vivo Capital, a leading global life sciences fund, and Certares, an international tourism and hospitality investor, and launched a new Healthcare Investment Fund capitalised at $130 million to localise medical industries and lift the quality of care.
Beyond large-scale projects, FFO continues to back startups and small and medium-sized enterprises at every stage of growth, from incubation through early growth to established firms.-TradeArabia News Service