Oman’s sovereign fund secures stakes in Turkish mining, defense players

Oman-Turkey investment fund’s first moves: The USD 500 mn Turkey Oman Investment Company, a 50-50 joint investment fund between Oman Investment Authority and the Turkish Army’s pensions fund Oyak, signed agreements to acquire stakes in Turkey’s mining company Samas and autonomous defense outfit Tekatron.

#1- The defense play: The OIA officially entered the advanced defense systems space through the offtake of a stake in the Ankara-based Tekatron, which specializes in the design and manufacture of unmanned ground military vehicles (UGVs). The deal is set to give Omani capital a stake in tech critical for border security and surveillance — with the possibility of localization in the Sultanate down the line.

#2- The supply chain angle: The acquisition of a stake in Samas Mining targets a high-value input in many industries: Naturally occurring sodium bentonite. Samad operates the Tokat deposit, reportedly one of the only two remaining deposits of its kind globally. The investment will help Samas scale its annual production from 160k tonnes to over 300k tonnes. Oman is also set to get priority access to the material to support its domestic industrial sector.

SOUND SMART- Sodium bentonite is essentially a type of clay formed by ancient volcanic ash. The clay has multi-industry uses due to its incredible swelling capacity (up to 15-20 times its dry volume) and non-toxic nature, making it an efficient insulator and binder that is used in industries spanning construction, water management, oil and gas drilling, nanotechnology, and cosmetics. The material is sometimes produced through the processing of the more naturally abundant calcium Bentonite.

The transactions mark the first investments we know of by the joint Turkish-Omani fund since its creation in late 2024. The fund’s setup is also part of Oman’s playbook — the OIA is increasingly using 50-50 investment funds in partnership with local heavyweights as its primary vehicle for expanding investments abroad. Other similar 50-50 arrangements include a USD 200 mn joint fund with Azerbaijan Investment Holding in 2025, another USD 200 mn fund with the Uzbek Reconstruction and Development Fund, and two funds with Spain’s sovereign wealth fund Cofides.