Oman, KSA sign 13 investment MoUs worth USD 270 mn in multiple sectors — green and otherwise: Public and private sector entities in Saudi Arabia and Oman signed 13 MoUs in multiple sectors — including some that are green business-focused — at the Saudi-Omani Investment Forum, held in Riyadh from Wednesday-Saturday, Muscat Daily notes. The total value of the MoUs exceeds SAR 1 bn (some USD 270 mn). The agreements include some in the clean energy space — specifically, renewable energy and green hydrogen — but also span oil and petrochemicals storage, mining, tourism, logistics and transportation, and others, Saudi Gazette notes.

One of the big agreements has a green component: Oman’s Finance Ministry signed an MoU with the Saudi Fund for Development — a government institution that provides loans for development projects — to build an integrated economic zone in Oman’s Dhahirah. The first phase of construction will cost some OMR 122 mn (USD 317 mn). The project will include provisions for industrial waste treatment.

Details on the other green or possibly-green agreements: An OMR 4 mn (USD 10.4 mn) agreement was signed to invest in green hydrogen production, with initial plans to prepare investment, financing and economic studies to spur investment partnerships. Oman’s Colossal Engineering and Construction signed an agreement with Saudi solar PV company Desert Technologies to launch solar projects in Oman. Saudi’s GCC Electrical Testing Lab signed an agreement with Oman’s Voltamp worth OMR 5 mn (USD 13 mn) in the field of electrical transformer services — which improve system reliability and energy efficiency. Saudi’s International Marine Industries signed an agreement with an Omani firm to support the kingdom’s marine industry. Oman’s Construction and Engineering Company signed an agreement with Saudi’s Tharawat Mining to operate and manage mining sites, with no further information given.

Oman’s been upping its climate game recently: Oman unveiled a strategy in October to boost investment in green hydrogen to USD 140 bn by 2050. It recently allocated land within its special economic zones for green hydrogen and green ammonia production and has been inviting project bids. Energy investment company OQ has been exploring low-carbon ammonia generation with a number of other players. Like many countries in the region, Oman is eyeing export to Europe. The country has also been working to “greenify” some industries, including with Jindal Shadeed Iron Steel setting up a USD 3 bn green steel plant in Duqm, while Oman Aluminium Rolling Company inked an agreement in November to purchase biofuel for use in production. In the solar space, Oman Power and Water Procurement Company kicked off an open tender for a 500 MW IPP solar PV project, set to come online by 4Q 2026, we noted in November.