Russian technology corporation Rusnano says its recent agreement with Oman Oil Company (OOC), the wholly Omani government owned energy investment arm, is aimed at exploring opportunities for “co-investment” in chemical and petrochemical industries that capitalise on “competitive innovative technologies”.
The Moscow-based joint stock company which implements investment projects by using its prodigious resources and establishing nanotechnology investment funds, said in a statement issued at the weekend that both sides will evaluate opportunities for joint investment in oil & gas, as well as chemical related ventures.
Oman Oil Company, the biggest investor in the Sultanate’s hugely important energy and petrochemicals sector, inked a “partnership and cooperation agreement” with Rusnano on October 15, 2017 against the backdrop of the 2nd Russian-Omani Business Forum that took place in Muscat. The forum was hosted by the Oman Chamber of Commerce and Industry (OCCI) in cooperation with the Russian-Omani Business Council. “The (two parties) are interested in evaluating potential co-investment opportunities in the chemical and petrochemical industries through chemical funds launched by Rusnano, bringing benefit to the Russian and the Omani sides. The opportunities pipeline will include strategically important chemical and petrochemical projects based on competitive innovative technologies,” the Russian state-own nanotechnology firm said.
It quoted Managing Director Vladimir Konovalov as saying that Rusnano sees a lot of investment potential in the Russian petrochemical industry based on its competitive feedstock prices and traditionally strong role in this sector.
“Cooperation with Oman Oil Company, with its extensive portfolio of projects and industry expertise, will enable us to increase the efficiency of our investments,” Konovalov added.
Established in March 2011 through the reorganisation of the state-owned Russian Corporation of Nanotechnologies. Rusnano has the mandate to implement state policy on the development of the country’s nanotechnology industry by investing directly and through investment funds in nanotechnology projects in the Russian Federation.
The company has investments in as many as 87 plants and R&D centres around Russia.
Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals.
Conrad Prabhu
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