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OIA working with ACWA Power on clean energy project

Abdulsalam al Murshidi, head of Oman Investment Authority
Abdulsalam al Murshidi, head of Oman Investment Authority

Muscat: Abdulsalam al Murshidi, President of Oman Investment Authority (OIA), has said in an interview with Asharq al Awsat Arabic newspaper that what has been achieved with Saudi Arabia in recent times exceeds what was seen in the past 20 years, especially since the visit of His Majesty Sultan Haitham bin Tarik's visit to the kingdom in 2021.

He said that an investment attaché has been appointed at the Sultanate's Embassy in Riyadh, which is also the focal point for all business-related discussions between the two countries.

"We are working with Saudi Company ACWA Power on a project that will make Oman the world's leading producer of clean energy while other huge projects between both countries will be announced in the future."

He added that economic diversification does not mean fully relinquishing oil and gas and the Omani-Saudi partnership in 'Rakiza' is a good example of regional cooperation

"The company established to invest in Oman by the Public Investment Fund' started looking into investment opportunities in both countries. Oman's economic diplomacy succeeded in enhancing Oman's International standing in the energy sector We aim to use solar and wind energy to generate electricity in addition to powering clean industrial projects."

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