Oman Approves Investment in Middle East’s First 6 GW Integrated Solar Cell and Module Manufacturing Plant

Oman's Future Fund Oman (FFO), a USD 5.2 billion investment vehicle managed by the Oman Investment Authority, has approved a new package of strategic investments that includes plans to establish the Middle East's first integrated solar cell and module manufacturing plant. The initiative forms part of the country's broader strategy to strengthen its industrial base and diversify the economy.

The latest investment package comprises 105 projects and investments worth USD 1.744 billion. Of this, FFO has committed USD 585 million, while local investors will contribute approximately USD 458 million.

As part of the package, Orion Solar has been selected to develop an integrated solar cell and module manufacturing facility in Sohar Freezone. The plant will have an annual production capacity of 6 GW and will be the first integrated facility of its kind in the Middle East. It is intended to establish domestic manufacturing capabilities across the solar value chain and support the region's growing renewable energy sector.

The investment programme also includes the Gallant Industrial Project, which will manufacture 66,000 tonnes per year of lithium iron phosphate (LFP) cathode material used in electric vehicle batteries. The project is expected to strengthen Oman's position in battery materials manufacturing and energy storage supply chains.

Beyond clean energy manufacturing, the latest investment package covers projects across tourism, healthcare, medical technologies, innovation, food industries and cybersecurity, reflecting the country's efforts to expand investment across multiple strategic sectors.

FFO and the Oman Investment Authority have also previously invested in United Solar Holding, which earlier this year inaugurated a polysilicon manufacturing facility in Sohar Freezone.