MUSCAT: Oman Oil Marketing Company SAOG, a subsidiary of OQ Group, has announced a collaboration with Synergy Investments LLC to support the growth of Electric Vehicle infrastructure in the Sultanate of Oman.
A binding Heads of Terms pact signed earlier this month aims to establish ‘Electric Vehicles One’ (EVO), a new entity focused on developing Oman’s electric vehicle infrastructure.
The formal agreement, inked on July 3, 2023, marks a significant milestone in the advancement of electric mobility in Oman. Notably, both parties will be contributing capital in the form of assets, valuated as per a comprehensive asset valuation report.
EVO’s core business activities will revolve around the trading, installation, operation, and maintenance of cutting-edge electric vehicle charging stations. In addition, EVO will offer a suite of ancillary services and products, designed to complement Oman’s evolving electric vehicles ecosystem.
The joint endeavor is propelled by a shared vision to expand the electric vehicle market in Oman and drive the adoption of sustainable, green energy solutions. By combining their expertise and resources, Oman Oil Marketing Company SAOG and Synergy Investments LLC aim to spearhead the sustainable transportation movement in the region.
At the energy forum today in Salalah on Sunday, Oman Oil Marketing Company SAOG outlined its strategy to support Oman’s Net Zero goal. “We are excited about the potential impact of EVO in shaping a greener transportation landscape and reducing our carbon footprint,” a company official stated.
“This collaboration represents a significant step towards a cleaner and more sustainable future for Oman. Vehicle charging solutions are compatible with Gulf specifications, which contributes to the facilitation of the process for the beneficiaries,” he said, adding there will be subscription packages at prices that suit all categories.
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