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UAE and Oman indication deals worth $35 bln on state see

Emirati and Omani companies have actually signed offers worth 129 billion dirhams ($ 35.12 billion) in sectors including energy and transportation during the Omani ruler's. see to the United Arab Emirates this week.

The UAE financial investment ministry announced the deals on Tuesday,. a day after Oman's Sultan Haitham bin Tariq showed up for a. two-day state visit and consulted with UAE President Sheikh Mohammed. bin Zayed Al Nahyan.

The contracts were dominated by a 117 billion dirham. commercial and energy megaproject organizing wind, solar. projects and green metals production.

Abu Dhabi National Energy Co. (TAQA), Abu Dhabi Future. Energy Company (Masdar), Emirates Global Aluminium (EGA),. Emirates Steel Arkan (ESA), OQ Alternative Energy and Oman. Electrical Transmission Co were among the business involved,. the ministry declaration stated.

It did not divulge more information.

Abu Dhabi's sovereign wealth fund ADQ also signed an. contract to set up a 660 million dirham technology-focused fund. with the Oman Financial Investment Authority, while the UAE and Oman. signed a 11 billion dirham agreement to connect the countries by. rail.

The agreements represent a major turning point in our bilateral. ties, as they pave the way for us to take advantage of our collective. strength to understand our shared vision of improvement and. prosperity, UAE Minister of Financial Investment Mohamed Hassan Alsuwaidi. said.

(source: Reuters)