Oman's ITHCA Group has signed an investment agreement with U.S.-based Lumotive to support advancements in prog ..Read More

Oman's ITHCA Group has signed an investment agreement with U.S.-based Lumotive to support advancements in programmable and optical semiconductors. The partnership aligns with Oman’s Vision 2040 to become a regional tech hub and promote digital transformation. Lumotive, a recognized innovator with CES Innovation Awards, will bolster Oman’s semiconductor ambitions through this strategic collaboration.
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• Manufacturing

Dar Global and The Trump Organization have launched the Trump International Hotel & Tower, Dubai, the Middle E ..Read More

Dar Global and The Trump Organization have launched the Trump International Hotel & Tower, Dubai, the Middle East’s first Trump-branded luxury development, rising 350m with 80 floors along Sheikh Zayed Road. The project offers exclusive residential and hospitality amenities, including private lounges, the highest outdoor pool globally, and two penthouses with sky pools inspired by Trump Tower New York. This marks their fifth collaboration, following successful projects in Saudi Arabia and Oman, reinforcing confidence in the region’s real estate and tourism growth.
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• Construction

SOHAR Port and Freezone has initiated the construction phase of the MARSA LNG project, a USD 1.6 billion joint ..Read More

SOHAR Port and Freezone has initiated the construction phase of the MARSA LNG project, a USD 1.6 billion joint venture between TotalEnergies and OQ Oman, by signing three key contracts with WSP, Boskalis, and Six Construct for consultancy, dredging, and LNG jetty construction. The project, powered entirely by a 300MW solar plant, will be the Middle East’s first LNG bunkering hub producing one million metric tons annually, supporting Oman’s Vision 2040 and carbon neutrality goals. Completion timelines range from September 2025 for dredging to 16 months for jetty construction.
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• Construction

At the Advantage Oman Forum, SOHAR Port and Freezone signed a land lease agreement with JA Solar OM (FZC) SPC ..Read More

At the Advantage Oman Forum, SOHAR Port and Freezone signed a land lease agreement with JA Solar OM (FZC) SPC to establish a $565 million solar cell and module manufacturing facility. Spanning 32.5 hectares in Phase 2 of the Freezone, the project will have an annual capacity of 6 GW solar cells and 3 GW modules, with operations set to begin in Q1 2026. This initiative supports Oman Vision 2040 and reinforces Oman’s role in the global clean energy transition.
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• Manufacturing

NMDC Group, UAE has signed a contract valued at AED 383 million (USD 104.2 million) to construct a marina proj ..Read More

NMDC Group, UAE has signed a contract valued at AED 383 million (USD 104.2 million) to construct a marina project in Oman. The scope includes complete execution of marina works, with the project scheduled for completion in 15 months. The contract reflects NMDC’s continued regional expansion in marine infrastructure.
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• Construction

National Energy Services Reunited Corp. (NESR) has secured five-year Slickline contracts worth US$200 million ..Read More

National Energy Services Reunited Corp. (NESR) has secured five-year Slickline contracts worth US$200 million in Kuwait and Oman, expanding its Drilling & Evaluation (D&E) segment across the MENA region. These new awards mark NESR’s entry into Slickline services in both countries, building on existing strengths in Saudi Arabia and Egypt. The move supports NESR’s “portfolio pull through” strategy and reinforces its position among the top three regional providers of evaluation services.
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• Oil & Gas

Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a Memorandum of Cooperation ..Read More

Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a Memorandum of Cooperation with OQ Alternative Energy to implement an Energy Excellence Programme aimed at achieving net-zero emissions by 2050. The MoC includes support for energy efficiency assessments, decarbonisation initiatives, ISO 50001 certification, and the development of an energy strategy. The initiative aligns with Oman Vision 2040 and supports sustainability efforts across economic zones, free zones, and industrial cities.
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• Manufacturing
• Power

Nama Power and Water Procurement Company (PWP), Oman’s sole power and water procurer, has invited bids for t ..Read More

Nama Power and Water Procurement Company (PWP), Oman’s sole power and water procurer, has invited bids for techno-economic consultancy services for a Hot Springs Geothermal Project. The project supports Oman Vision 2040, fuel diversification, and Net-Zero targets. The selected consultant will assess geothermal feasibility in areas between Wilayat Fanja and Al Ansab (Wilayat Bousher) as Phase I. Bid submissions are due by 22 May 2025.
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• Power