Future Fund Oman (FFO), a portfolio of the Sultanate’s sovereign wealth fund Oman Investment Authority (OIA), has announced a new package of 105 strategic projects and investments worth USD 1.74 billion as the Middle East nation accelerates its economic diversification.
“The portfolio combines USD 585 million in commitments from FFO with around USD 458 million in local investment, spanning renewable energy, advanced manufacturing, tourism, healthcare, medical technologies, innovation, and food industries,” Future Fund Oman said.
“The portfolio’s most internationally significant bets place Oman inside global supply chains. Its flagship, Orion Solar, will build an integrated solar cell and module facility in Sohar Freezone with an annual capacity of six gigawatts, the first of its kind in the Middle East and a cornerstone of localizing the solar value chain,” it added further.
Along with Orion Solar, Gallant Industrial Project will produce 66,000 tonnes a year of lithium iron phosphate cathode material, a core component of electric vehicle batteries, linking the Sultanate to the fast-growing global clean-energy and storage ecosystem.
“This portfolio directs capital toward nationally prioritized sectors and strengthens Oman’s appeal to global investors,” remarked Mulham Al Jarf, the Deputy President of Investment at the OIA.
Established in 2024 with a capital of USD 5.2 billion to stimulate Oman’s economic recovery in the post-COVID world, the Fund has continued to build specialized partnerships that are bringing global expertise and knowledge transfer to the Sultanate’s priority sectors.
As per Al Jarf, while the fund has worked to establish itself as an economic catalyst and a trusted investment partner, it is also building capacity across strategic domains like tourism, technology, and food security.
“It is backing the A’s Sodah Island Resort, an integrated development spanning roughly 10 km of pristine coastline, and Terminal 11, Oman’s first integrated innovation hub, which brings startups, venture capital, and researchers under one roof,” the senior official noted.
The Fund has also invested in futuristic projects like Span Alma, an animal-nutrition manufacturer drawing on Oman’s marine and pastoral resources, and XCyber, a sovereign cybersecurity company using artificial intelligence (AI) to protect critical national infrastructure.
FFO has already committed USD 200 million each to Vivo Capital, a leading global life sciences fund, and Certares, an international tourism and hospitality investor, apart from launching a new healthcare investment fund capitalized at USD 130 million to localize medical industries and lift the overall quality of care.
“Beyond large-scale projects, FFO continues to back startups and small and medium-sized enterprises at every stage of growth, from incubation through early growth to established firms,” Al Jarf concluded.