Oman Investment Authority (OIA) recently announced the opening of 13 national projects valued approximately at OMR3.5 billion ($9.1 bn) as part of Oman Vision 2040.
The projects aim to diversify the national economy, create job opportunities for citizens, attract investments and further enhance participation of the private sector with the OIA.
The projects included a Liwa plastic industries complex at Port of Sohar, a liquefied petroleum gas project in Salalah, a petroleum coke project in Sohar Free Zone, an Ibri solar power plant, and Al Morooj dairy project.
Furthermore, an Al Bashayer integrated project will breed cattle, sheep, and more farm animals and include an in-house slaughterhouse and a factory for meat products and three units for food processing and packing.
There will be a fish farming project at Qaroun area in Jalan Bani Bu Hasan, a Khazaen Land Port at Khazaen Economic City, a mining project in the Wilayat of Liwa, an Omani International Hospital, a Karwa Bus Factory in partnership between Oman and Qatar, and a Nasim Resort Project at Al Jabel Al Akhdar.
$1 billion Omani tourist resort
An Omani developer has revealed plans to build a $1bn tourist resort near the small fishing town of Qurayyat, about 80km southeast of Muscat.
The Qurayyat Development Company is planning to build the Al Sahel project in three phases, reports the Oman Daily Observer.
The first will cost around $100 million and will install infrastructure on the 130 hectares site. It will also construct 400 housing units, a four-star hotel with 220 rooms, and greenhouses for growing vegetables. There will also be an equestrian and camel riding club.
The second phase will add 1,600 homes, a mosque, and a golf academy. The existing hotel will be expanded and will be joined by a three-star hotel of 150 rooms.
In the final phase, an additional 3,000 housing units will be added, including 36 luxury villas on the waterfront of the project and a five-star hotel with 200 rooms. The project also includes the addition of a floating berth to the fishing port to moor ferries and yachts.
Oman has long seen tourism as one of its main growth industries, and in 2019, the country attracted 4.1 million visitors.
A hydrogen economy
Oman is planning to build a hydrogen-centric economy by 2040, with an annual production capacity of green and blue H2, according to a local official.
“The potential for clean hydrogen, including the green and blue versions, is around 1GW by 2025, 10GW by 2030 and around 30GW by 2040,” said Abullah al Abri, head of Energy Renewal, a unit of the country’s leading oil & gas producer, Petroleum Development Oman, speaking at a webinar hosted by the Ministry of Energy and the Italian embassy in Oman.
Coastal areas in southern Oman have the combination of strong winds and high solar irradiation that many developers believe would be ideal to produce green hydrogen at an ultra-low price, allowing electrolyzers (which split water molecules into H2 and oxygen) to work around the clock, powered by cheap renewable energy.
Several gigawatt-scale green hydrogen projects have already been announced in the country, including a 14GW facility powered by 25GW of wind and solar being developed by InterContinental Energy, Omani oil & company OQ, and Kuwaiti state-owned tech company EnerTech.
Indian renewables developer ACME also plans to build one of the world’s largest green ammonia projects at Oman’s Port of Duqm, using hydrogen electrolyzers powered by 3GW of solar and 500MW of wind power.
Another high-profile project is Hyport Duqm which aims to build a green hydrogen/ammonia facility powered by 1.3GW of renewable energy.
And the 400MW SalalaH2 green hydrogen/ammonia project was announced for the coastal city of Salalah in October powered by about 1GW of wind and solar.