Saudi PIF aims to invest $5bln in Oman

There are no details yet as to what industries or companies the money will be invested in

  
Saudi Crown Prince, Mohammed bin Salman, is received by Oman's Sultan Haitham bin Tariq upon his arrival to Muscat, Oman, December 7, 2021. Saudi Press Agency/Handout via REUTERS

Saudi Crown Prince, Mohammed bin Salman, is received by Oman's Sultan Haitham bin Tariq upon his arrival to Muscat, Oman, December 7, 2021. Saudi Press Agency/Handout via REUTERS

JEDDAH: Saudi Arabia’s Public Investment Fund is planning to invest SR18.7 billion ($5 billion) in Oman, according to a statement from the two countries.

The plan was announced after the visit of Saudi Crown Prince Mohammed bin Salman to his Middle East neighbor.

There are no details yet as to what industries or companies the money will be invested in.

The announcement comes after the two countries signed 13 memoranda of understanding, reportedly worth more than $30 billion and covering a number of sectors.

The agreements were signed by Omani companies fully owned by the sultanate’s investment authority, the Saudi Press Agency and Omani state TV reported on Monday.

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