Saudi Arabia, Oman sign 13 MoUs to boost cooperation

RIYADH: Omani companies, which are fully-owned by the Investment Authority, have signed 13 memoranda of understanding with their Saudi counterparts in different sectors, Arab News quoted Oman’s state TV, as reporting.

The Oman-based OQ Group, a global energy provided, signed three MoUs. The first one was signed with Saudi ACWA Power and Air Products in the fields of petrochemicals, renewable energy and green hygrogen.

The second agreement related to oil storage was signed with Saudi Aramco and the third MoU with SABIC to develop Oman’s Duqm Petrochemical Complex project.

Omran Group signed a MoU with the Saudi Dar Al Arkan Real Estate Development Company, to develop the Yetti Beach in Oman.

The Omran Group creates sustainable and authentic tourism assets, lifestyle communities and destinations that drive economic growth and contribute to the diversification of the economy.

Another MoU was signed between the Fisheries Development Oman, and Saudi Arabia’s the National Aquaculture Group or Naqwa to boost cooperation in fisheries.

The Saudi Tadawul Group and Muscat’s market signed a MoU to cooperate with the stock exchange operation, and the dual listing of companies.

The Oman-based Asyad, a logistic group, also signed a MoU with the Saudi Bahri, a transportation and logistics company. The Mineral Development Oman signed a deal with Maaden Phosphate Co. of Saudi Arabia to boost cooperation in the mining sector.

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