UAE and Oman Agree on a $32 Billion Green Megaproject

The United Arab Emirates (UAE) and Oman have signed an investment agreement worth AED 117 billion ($31.85 billion) for an industrial and energy mega-project, which includes renewable energy initiatives and green steel production. This agreement is part of a broader AED 129 billion investment partnership established at the UAE-Oman Business Forum in Abu Dhabi in April. The collaboration will enable both countries to leverage their strategic geographical locations and renewable energy assets to become leading producers of green hydrogen.