OIA
Contributes to Localizing Advanced Technological Solutions for Water &
Wastewater Treatment
Muscat,
7 May (ONA) — Through its investment in the American company ‘Gradiant’, Oman
Investment Authority (OIA) succeeded in strengthening its strategic portfolio
and diversifying its investments in the water sector.
This
deal is among OIA’s most prominent steps in localizing global technologies and
utilizing them in the local sector. ‘Gradiant’ is a leading global provider of
advanced solutions for water and wastewater treatment with 166 registered
patents, in addition to 67 patent applications awaiting approval.
This
investment relationship was also characterized by local initiatives, the most
important of which was ‘Gradiant’s’ cooperation with ‘Nama Water Services
Company’ to launch the ‘Oman Laboratories Innovation Center’, in addition to
the cooperation with ‘Turing Company’, one of Gradiant’s subsidiaries, to
discuss opportunities to leverage artificial intelligence in addressing water
sector challenges in the Sultanate of Oman, as reported in the latest issue of
‘Enjaz & Eejaz’ bulletin.
In
addition, the bulletin touched on OIA’s divestment from two investments with
international real estate companies, the first of which was divesting from its
investment with the Australian company ‘Scape’, which achieved an internal rate
of return of 17%, multiplying its investment by 2.3 times. OIA also divested
from its investment in ‘Zurich Apart Hotel’ as part of the Elba Hospitality portfolio
with ‘Westmont Hospitality Group’, achieving an internal rate of return of 22%,
which multiplied the investment by 4.4 times.
Eng.
Abdulrahman Al Hatmi, CEO of ‘ASYAD Group’, revealed the Group’s current and
upcoming projects, the most prominent being the expansion of Salalah Port and
the southern expansion of Sohar Port, in addition to the development of Port
Suwaiq and Port Sultan Qaboos. The Group also focused on developing free zones,
as it started construction of the Muscat Airport Free Zone in addition to
developing the second phase of the Sohar Free Zone.
Regarding
its future projects, ASYAD Group has completed the necessary studies for two
projects aimed at enhancing trade movement with both the Kingdom of Saudi
Arabia and the United Arab Emirates.
In
the context of highlighting Omani talents, the issue featured the story of
Ayham Al Riyami, Senior Director at the Public Markets Directorate, who shared
his professional journey since joining OIA in 2009, and his role in managing
the global investment portfolio.
The
issue also shed light on a group of topics that reflect OIA’s trend to support
innovation, enhance sustainability, and build national capabilities. Among
those is the ‘Qimam’ hackathons, which toured the various governorates of the
Sultanate of Oman. 150 teams participated and worked to provide solutions for realistic
challenges.
The
issue also showcased a project to plant 30,000 Omani lemon trees on ‘Rahab
Farm’, which is the first carbon sequestering project launched by ‘Nakheel
Development Oman’. The project aims to contribute to achieving net-zero
emissions and raising national production of Omani lemons by 38%.
—Ends/AG
