MUSCAT : Future Fund Oman, managed by the Oman Investment Authority (OIA), is investing RO27 million in the Orion Solar Energy Project, a RO170 million renewable energy and manufacturing project in Sohar Free Zone.

The project will establish the first solar cell manufacturing facility in the Middle East, with a planned production capacity of 6 gigawatts (GW) of solar cells.

OIA said the investment supports Oman’s economic diversification and the localisation of future industries by developing the country’s renewable energy value chain, increasing local content and creating employment opportunities.

The project is expected to generate RO35 million in local content during the planned period and create 1,526 job opportunities.

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