BEIJING — Oman Investment Authority signed investment agreements and partnerships worth billions of dollars with Chinese institutions and companies during Sultan Haitham bin Tarik’s state visit to China, in what the sovereign wealth fund described as its largest package of deals concluded in a single day.

The package includes joint investment funds, a proposed $1 billion battery storage programme, a $418.7 million mining services contract and partnerships covering renewable energy, manufacturing, logistics, digital transformation and space technology.

The agreements were signed at the Oman–China “Investment Partnership Horizons” conference, organised by OIA in cooperation with Bank of China and China Investment Corporation. OIA did not provide a consolidated value for the package, which includes preliminary term sheets, memoranda of understanding, framework agreements and contracts.

OIA President Abdulsalam bin Mohammed Al Murshidi said the agreements marked a shift from trade towards joint investment, with most of the projects to be established in Oman.

Cooperation had previously centred on oil and gas trade before expanding into construction projects undertaken by Chinese companies in Oman, he said. It was now moving into investments intended to diversify the economy, create jobs and develop advanced industries under Oman Vision 2040.

Al Murshidi said China had become Oman’s largest trading partner in modern technologies, solar and wind energy, and technologies used in advanced industries. The agreements would create opportunities for OIA, its portfolio companies and other Omani businesses to expand and exchange expertise, he added.

The visit, described in the announcement as the first by an Omani sultan to China, provided the backdrop for a conference bringing together government representatives, sovereign wealth funds, investment institutions, state-owned companies and businesses from both countries.

Discussions focused on attracting Chinese capital and technology to Oman, expanding access to the Chinese market for Omani companies and using Oman’s location and infrastructure to reach regional and international markets.

OIA said the partnerships were intended to combine commercial returns with benefits for the domestic economy, including knowledge transfer, skills development, local production and stronger links to international supply chains.

Among the largest fund agreements, OIA signed a preliminary term sheet with China’s Silk Road Fund to establish an $800 million joint fund, equivalent to RO307.6 million.

Most of the fund would be invested in Oman, with the balance allocated to China and emerging markets. It would pursue opportunities across several sectors.

A separate preliminary term sheet with China Merchants Bank provides for a second $300 million investment fund, equivalent to RO115.35 million, financed equally by the two parties.

The proposed fund builds on their first fund, established in 2019 with the same value to invest in China’s technology sector and advanced industries.

OIA also signed a memorandum of understanding with China Investment Corporation to establish a framework for identifying, assessing and jointly pursuing investment opportunities in Oman and China.

The two institutions already have joint investments in Turkey and a joint investment fund covering Central Asia and the Caucasus. The new framework is intended to draw on their expertise and networks to explore further opportunities.

Additional memoranda with Bank of China and China International Capital Corporation aim to strengthen investment cooperation and bring investments to Oman.

OIA also signed an MoU with China International Marine Containers to expand the company’s presence in Oman and draw on its transport and logistics expertise and international networks.

The package included a $200 million fund established by OIA and IDG Capital in Oman, equivalent to RO76.9 million and financed equally by the partners. It will connect Chinese companies with investment opportunities across the Omani economy and support their expansion in the country.

OIA and Templewater established another equally financed $200 million fund in Oman as part of a wider partnership worth $260 million, or RO99.97 million.

That partnership will pursue investments in energy companies, particularly clean energy. It also includes a $60 million investment in Oman through the Templewater Innovation Fund, in which OIA invested in cooperation with Hong Kong’s Innovation and Technology Commission. The innovation fund focuses on technology in China and Hong Kong.

EWP Partners and OIA established a $250 million fund in Oman, equivalent to RO96.12 million. EWP will also allocate part of its regional fund to Oman, taking the total partnership to approximately $275 million, or RO105.74 million.

The cooperation targets Chinese investment in digital technology, smart manufacturing, energy, renewables, utilities and related technology solutions.

OIA also signed a cooperation agreement with HongShan, formerly Sequoia China, which specialises in venture capital and direct investment in technology.

In energy storage, Nama Holding and State Grid International Development Limited signed a framework agreement covering battery storage projects in Duqm and Ibri worth approximately $1 billion, or RO384.5 million.

The projects would have a combined capacity of 1 gigawatt and connect to the national electricity transmission network. They are intended to improve grid stability, reliability and efficiency while supporting the integration of renewable energy.

OIA separately signed a preliminary term sheet with PCG and Hoymiles for a $100 million partnership, equivalent to RO38.45 million, to develop solar projects in Oman and establish a solar inverter manufacturing facility.

The facility would serve business customers across the Middle East and North Africa, combining power project development with local manufacturing and potential exports.

O-Green and Shanghai Electric Wind Power Group signed a comprehensive strategic partnership agreement aimed at developing Oman as a regional centre for wind energy engineering and manufacturing.

The agreement provides for a joint research and development centre and a wind turbine testing site affiliated with the Mawarid Turbines factory in Duqm, drawing on Shanghai Electric’s experience at other locations worldwide.

Work will focus on adapting turbines to the climatic and environmental conditions of Gulf countries and developing a technology platform to support local manufacturing and related industries.

The partnership envisages indicative research and development investment of $10 million to $20 million, potentially supporting future contractual opportunities exceeding $1 billion.

It also covers the development of green ammonia projects in Oman and the examination of preliminary investment opportunities valued at more than $200 million.

In mining, Minerals Development Oman signed a 10-year integrated mining services contract with Hongda International for the Mazoon Copper and Gold Project in Yanqul, worth RO161 million, or $418.7 million.

The contract covers open-pit operations, including drilling, loading, hauling and ore supply, as well as transporting waste rock and dry-processing tailings. It also includes road construction, quality-control drilling and the provision of accommodation and other facilities needed for the work.

In logistics, Asyad Group and JD.com agreed to develop warehousing and logistics facilities in Oman, starting with three distribution warehouses at Muscat Airport Free Zone, Khazaen Economic City and Sohar Free Zone.

The partners will work to connect their networks to serve Gulf Cooperation Council and East African markets. They will also explore digital systems, automation and other technologies to improve operations and supply-chain efficiency.

The digital transformation agreements included two memoranda involving the Ministry of Transport, Communications and Information Technology and Oman Telecommunications Company, or Omantel, with WPS companies.

One covers cooperation on the government’s digital transformation programme. The other concerns the installation of Ascend neural processing units, specialised chips and high-performance computing accelerators intended to support advanced applications and strengthen computing infrastructure.

Implementation will depend on the scope and requirements of the cooperation, according to the announcement.

In space technology, Oman Lens and Star.Vision Aerospace signed two cooperation agreements covering skills development, research and satellites.

The first establishes a five-year programme to sponsor 30 Omanis for master’s and doctoral studies in China, train 1,000 Omani specialists and create a joint space artificial intelligence laboratory.

The programme aims to transfer knowledge, develop local expertise and support the adoption of space technologies in Oman.

The second agreement, under the Space Silk Road programme, covers satellite development, launches and operations in two phases.

The first phase comprises seven satellites. A second phase involving additional satellites will be assessed depending on the success of the initial phase.

The agreement also provides for a satellite assembly, integration and testing centre in Oman, alongside technology transfer, training for Omani specialists and the gradual development of local manufacturing.

OIA said the agreements build on its existing investments in China and are intended to turn closer bilateral ties into projects supporting Oman’s economic diversification and the development of priority industries.