{"id":75883,"date":"2023-02-06T02:00:30","date_gmt":"2023-02-06T02:00:30","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/02\/06\/oman-and-ksa-to-partner-on-green-hydrogen-and-renewables-projects\/"},"modified":"2023-02-06T02:00:30","modified_gmt":"2023-02-06T02:00:30","slug":"oman-and-ksa-to-partner-on-green-hydrogen-and-renewables-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/02\/06\/oman-and-ksa-to-partner-on-green-hydrogen-and-renewables-projects\/","title":{"rendered":"Oman and KSA to partner on green hydrogen and renewables projects"},"content":{"rendered":"

<\/a> Oman, KSA sign 13 investment MoUs worth USD 270 mn in multiple sectors<\/strong> \u2014 green and<\/strong> otherwise:<\/strong> Public and private sector entities in Saudi Arabia and Oman signed 13 MoUs in multiple sectors \u2014 including some that are green business-focused \u2014 at the Saudi-Omani Investment Forum<\/a>, held in Riyadh from Wednesday-Saturday, Muscat Daily<\/a> notes. The total value of the MoUs exceeds SAR 1 bn (some USD 270 mn). The agreements include some in the clean energy space \u2014 specifically, renewable energy and green hydrogen \u2014 but also span oil and petrochemicals storage, mining, tourism, logistics and transportation, and others, Saudi Gazette<\/a> notes.<\/p>\n

One of the big agreements has a green component: <\/strong>Oman\u2019s Finance Ministry signed an MoU with the Saudi Fund for Development<\/a> \u2014 a government institution that provides loans for development projects \u2014 to build an integrated economic zone in Oman\u2019s Dhahirah. The first phase of construction will cost some OMR 122 mn (USD 317 mn). The project will include provisions for industrial waste treatment.<\/p>\n

Details on the other green or possibly-green agreements: <\/strong>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\u2019s Colossal Engineering and Construction<\/a> signed an agreement with Saudi solar PV company Desert Technologies<\/a> to launch solar projects in Oman. Saudi\u2019s GCC Electrical Testing Lab<\/a> signed an agreement with Oman\u2019s Voltamp<\/a> worth OMR 5 mn (USD 13 mn) in the field of electrical transformer services<\/a> \u2014 which improve system reliability and energy efficiency. Saudi\u2019s International Marine Industries<\/a> signed an agreement with an Omani firm to support the kingdom\u2019s marine industry. Oman\u2019s Construction and Engineering Company<\/a> signed an agreement with Saudi\u2019s Tharawat Mining<\/a> to operate and manage mining sites, with no further information given.<\/p>\n

Oman\u2019s been upping its climate game recently: <\/strong>Oman unveiled a strategy in October<\/a> to boost investment in green hydrogen to USD 140 bn by 2050. It recently allocated<\/a> land within its special economic zones for green hydrogen and green ammonia production and has been inviting<\/a> project bids. Energy investment company OQ has been exploring<\/a> low-carbon ammonia generation with a number of other players. Like many countries in the region, Oman is eyeing<\/a> export to Europe. The country has also been working to \u201cgreenify\u201d some industries, including with Jindal Shadeed Iron Steel setting up a USD 3 bn green steel plant<\/a> in Duqm, while Oman Aluminium Rolling Company inked an agreement<\/a> 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<\/a> in November.<\/p>\n","protected":false},"excerpt":{"rendered":"

Oman, KSA sign 13 investment MoUs worth USD 270 mn in multiple sectors \u2014 green and otherwise: Public and private sector entities in Saudi Arabia and Oman signed 13 MoUs in multiple sectors \u2014 including some that are green business-focused \u2014 at the Saudi-Omani Investment Forum, held in Riyadh from Wednesday-Saturday, Muscat Daily notes. The […]<\/p>\n","protected":false},"author":1,"featured_media":75884,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[269],"tags":[11,39,298,92,88,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-hydrogen","tag-enterpriseclimate","tag-green-hydrogen","tag-hydrogen","tag-oman","tag-renewables","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"1d2fee7a-a4ea-420e-bed5-d39af5ad957c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/667.jpg","photo_position":"above","related_issue":[75874],"teaser":"","voice_url":""},"yoast_head":"\nOman and KSA to partner on green hydrogen and renewables projects - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/02\/06\/oman-and-ksa-to-partner-on-green-hydrogen-and-renewables-projects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oman and KSA to partner on green hydrogen and renewables projects\" \/>\n<meta property=\"og:description\" content=\"Oman, KSA sign 13 investment MoUs worth USD 270 mn in multiple sectors \u2014 green and otherwise: Public and private sector entities in Saudi Arabia and Oman signed 13 MoUs in multiple sectors \u2014 including some that are green business-focused \u2014 at the Saudi-Omani Investment Forum, held in Riyadh from Wednesday-Saturday, Muscat Daily notes. 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