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Future Fund Oman, the Gulf Sultanate’s national investment vehicle, has mobilised investments worth about $2.04 billion to accelerate the development of renewable energy and clean technology industries in the country, the Fund said, as part of a wider economic diversification drive.
Key projects include a $1.6 billion solar-grade polysilicon manufacturing facility being developed by United Solar, which is scheduled for completion in 2026. The project has already supported more than 1,000 jobs and generated over $317 million in in-country value, while also attracting interest from international development finance institutions, the Fund said in a press statement.
Another major investment is JA Solar’s six-gigawatt solar cell manufacturing complex at the SOHAR Port and Freezone. The $442 million project is approaching key construction milestones and, once operational, is expected to employ more than 500 people, strengthening Oman’s position in regional clean energy supply chains.
In 2025 alone, Future Fund Oman approved 141 projects, lifting total commitments to $1.2 billion. To date, the fund has mobilised around $2.1 billion in additional private and foreign capital, including eight large-scale projects developed alongside global investors, banks, funds and family offices.
Since its launch, the Fund has assessed 828 proposals and approved 141 projects with a combined value of about $3.4 billion, spanning nine strategic national investments and 132 small and medium-sized enterprises and venture capital initiatives.
The fund operates under a dual mandate, allocating capital to both large-scale national projects and high-growth businesses, with a targeted return of 12 percent and a maximum equity stake of 40 percent per investment.
(Writing by Dennis Daniel; Editing by SA Kader)
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