Oman Future Fund Unveils $1.74 Billion Project Portfolio

The Oman Future Fund (OFF), a portfolio of the Oman Investment Authority (OIA), has launched a new package of 105 strategic projects and investments totaling $1.74 billion. This initiative aims to accelerate the Sultanate of Oman's economic diversification efforts.

The investments span key sectors including renewable energy, advanced manufacturing, tourism, healthcare, medical technology, innovation, and the food industry. The fund stated that these projects aim to integrate Oman into global supply chains and enhance its appeal to international investors.

Notable projects include Orion Solar, which will establish a six-gigawatt solar cell and module manufacturing plant in the Sohar Freezone, marking a first for the Middle East. Additionally, the Gallant Industrial Project will produce 66,000 tons of lithium iron phosphate annually, a critical component for electric vehicle batteries, connecting Oman to the growing clean energy and storage markets.

The fund is also supporting tourism development with the As' Sodah Island Resort project and innovation through Terminal 11, an integrated innovation hub. Investments are also being made in animal nutrition through Alma and in cybersecurity via XCyber. The latter utilizes AI to protect critical national infrastructure.

Established in early 2024 with $5.2 billion in capital, the Oman Future Fund serves as a catalyst for the nation's economic recovery and long-term growth. The fund continues to foster strategic partnerships, aiming to bring global expertise and knowledge transfer to priority sectors in line with Oman's Vision 2040.