Oman Lands $2.4B in New Projects and Global Partnerships in February 2026

February 2026 was arguably one of the most consequential months for foreign investment in Oman's recent history. The Oman Investment Authority kicked off the 11th Five-Year Plan by launching four projects worth a combined OMR 935 million ($2.4 billion), while Brazil's JBS signed a $150 million food sector deal and a U.S. business delegation explored cybersecurity, semiconductors, and AI partnerships in Muscat. Fresh data from NCSI confirmed the momentum: total FDI stocks in Oman have surged 16.2% year-on-year to RO 30.9 billion.

📌 Key Takeaways

• $2.4 billion in OIA-backed projects launched on February 5, spanning solar manufacturing, petrochemicals, maritime, and specialty chemicals, all with foreign partners.
• United Solar's polysilicon factory in Sohar began production in early February, backed by $200 million from the IFC and financing from Abu Dhabi, Kuwait, and Dubai-based banks.
• Brazil's JBS signed a $150 million partnership with Oman Food Capital to build meat and poultry processing facilities.
• Germany's MAK is relocating PTA/PET production from Rotterdam to Sohar in a $550 million deal with OQ.
• India's Deepak Fertilisers committed $100 million for a specialty chemicals plant in Salalah Free Zone.
• A U.S. trade delegation visited Muscat to explore deals in AI, semiconductors, cybersecurity, and food tech.
• An Indian PHDCCI business delegation toured Muscat and Sohar, meeting procurement teams and exploring joint ventures.
• FDI data released in February showed the UK and U.S. remain Oman's largest investors, with combined stocks exceeding RO 24 billion.

🏭 Lead Story: OIA Launches $2.4 Billion in Projects to Open the Five-Year Plan

On February 5, the Oman Investment Authority formally inaugurated the 11th Five-Year Plan by announcing four major industrial projects with total investments exceeding OMR 935 million ($2.4 billion). Together, these projects are expected to create more than 1,850 direct jobs.

Each project involves a foreign partner, reflecting Oman's strategy of attracting international expertise while building local capacity.

1. United Solar Polysilicon Factory (OMR 700 million / $1.8 billion)

The crown jewel is the United Solar polysilicon facility in the Sohar Free Zone, the largest of its kind in the Middle East. The plant, which began production in early February, has an annual capacity of 100,000 metric tons of polysilicon, enough to support up to 40 GW of solar module manufacturing.

Foreign financing:

• International Finance Corporation (IFC): $200 million from its own account
• OPEC Fund for International Development: $50 million
• Abu Dhabi Commercial Bank, Al Ahli Bank of Kuwait, Commercial Bank of Dubai, First Abu Dhabi Bank: $230 million combined
• Oman Arab Bank: $220 million in local financing

Future Fund Oman, the investment arm of OIA, is the largest shareholder with approximately $260 million invested. The facility will create 1,012 direct positions in engineering, manufacturing, maintenance, and technical services, positioning Oman as a credible player in the global solar energy supply chain.

2. MAK Germany Petrochemical Complex (OMR 192 million / ~$550 million total)

In a striking vote of confidence, Germany's MAK is relocating PTA (purified terephthalic acid) and PET production equipment from its Rotterdam facility to Sohar Port and Free Zone. The integrated complex will produce 1.5 million tonnes annually for markets across the Middle East, Africa, Asia, and Europe.

OQ Group will supply paraxylene as the primary feedstock under a long-term agreement. The project is expected to generate around 700 direct jobs. This relocation signals that Oman's combination of feedstock availability, port infrastructure, and free zone incentives can compete directly with European manufacturing hubs.

3. Asyad-Svitzer Marine Tugboat Manufacturing

Asyad Drydock, Oman LNG, and Denmark's Svitzer (a Maersk subsidiary) signed a tripartite agreement to build the first integrated marine tugboat in Oman. The project targets 50% local content and focuses on knowledge transfer from Svitzer's international operations to Omani workers, creating direct and indirect jobs across port supply chains.

4. Deepak India Specialty Chemicals in Salalah (OMR 38 million / $100 million)

India's Deepak Fertilisers and Petrochemicals Corporation (DFPCL) is establishing a sodium nitrate and sodium nitrite plant in the Salalah Free Zone through its subsidiary Deepak Oman Industries. With a capacity of 70,000 tonnes per year targeting pharmaceutical and specialty fertiliser markets, the plant will create 150 direct jobs. A long-term ammonia offtake agreement with OQ Base Industries secures the feedstock.

🇧🇷 Brazil's JBS Signs $150 Million Food Partnership

On February 10, Oman Food Capital (an OIA subsidiary) announced a strategic partnership with JBS, one of the world's largest food companies. JBS will invest $150 million to build its largest Middle Eastern operation in the meat and poultry sector.

The deal includes completing an integrated poultry facility (A'Namaa Poultry) in the Wilayat of Ibri and a beef and mutton slaughter-and-processing facility (Al Bashayer Meat) in Thumrait, Dhofar. The Omani sovereign wealth fund stated that the venture "aligns with the national strategy for Oman to be self-sufficient in food production in a bid to reduce the import bill."

Context matters here: Oman's food imports rose 7% year-on-year to $8.2 billion in 2025, representing roughly 30% of total imports. The government has earmarked $13 billion for food security investments between 2020 and 2040.

🇺🇸 U.S. Trade Delegation Explores AI, Semiconductors, and Cybersecurity

On February 1, a U.S. business delegation visited the Oman Chamber of Commerce and Industry (OCCI) headquarters in Muscat. Saud Ahmed Al Nahari, OCCI Board Member, noted this was "the first delegation to be dispatched to the Sultanate of Oman by the Omani Trade Office in the United States since its establishment last year."

The delegation explored investment opportunities across manufacturing, cybersecurity, oil and gas technology, alloy manufacturing, data analytics, semiconductors, and artificial intelligence. Roundtable discussions on advanced technology and food security were followed by bilateral B2B meetings between Omani and American businesses.

Jeff Zimmerman, Agricultural Counselor at the U.S. Consulate General, participated alongside American companies eyeing Oman's growing tech and food sectors.

🇮🇳 Indian Business Delegation Tours Muscat and Sohar

India's PHD Chamber of Commerce and Industry (PHDCCI) organized a business delegation to Oman during the first week of February 2026. The delegation visited Muscat and Sohar, meeting with procurement teams at major Omani retailers including LuLu Hypermarket and exploring joint venture opportunities. India is already a significant trade partner for Oman, and the visit comes as the two countries continue to expand their Comprehensive Economic Partnership Agreement (CEPA).

📊 FDI Data Confirms the Momentum

Data released by the National Centre for Statistics and Information (NCSI) in February 2026 painted a strong picture. Total FDI stocks reached RO 30.948 billion by Q3 2025, up 16.2% year-on-year. Inflows during the first nine months of 2025 stood at RO 4.323 billion, compared to RO 3.302 billion in the same period of 2024.

Top investor countries by total FDI stock:

• United Kingdom: RO 16.027 billion (+21.5%), with inflows of RO 2.832 billion
• United States: RO 8.248 billion (+24.7%), with inflows of RO 1.635 billion
• Kuwait: RO 1.378 billion (+11.5%)
• Qatar: RO 748.6 million (+10.2%)
• UAE: RO 634.7 million (-9.7%)

Manufacturing FDI surged 24.6% to RO 3.49 billion, reflecting the government's push to diversify away from hydrocarbons.

🌍 What This Means for Foreign Founders Eyeing Oman

February's investment wave sends a clear signal to foreign entrepreneurs and tech founders. The OIA is actively seeking international partners across clean energy, petrochemicals, food tech, and maritime sectors, and it is willing to co-invest at scale. Sohar and Salalah free zones offer competitive incentives, and the new foreign investment regulations (100% foreign ownership is now permitted in most sectors) remove traditional barriers.

For tech founders specifically, the U.S. delegation's focus on AI, cybersecurity, and semiconductors highlights growing demand for specialized technology solutions. The polysilicon factory alone will need software for supply chain management, quality control, and energy optimization. Every billion-dollar industrial project creates a halo of tech opportunities.

The PHDCCI delegation from India and expanding CEPA ties also point to a corridor of opportunity for Indian tech entrepreneurs looking to serve the Gulf market from an Oman base.

🇴🇲 Why This Matters for Oman

February 2026 demonstrated that Oman's Vision 2040 diversification strategy is producing tangible results. The combination of sovereign wealth fund co-investment, free zone infrastructure, long-term feedstock agreements, and regulatory reform is creating an environment where global companies are choosing Oman over regional competitors.

With 1,850+ direct jobs from the OIA projects alone, plus hundreds more from JBS and Deepak, the employment impact is real and immediate. More importantly, these are not extractive investments. They involve technology transfer, local content commitments, and supply chain localization that will build lasting industrial capacity.

📚 Sources

• Economy Middle East, "Oman launches $2.4 billion manufacturing, tourism, and digital economy projects" (February 5, 2026)
• Muscat Daily, "FDI in Oman rises 16% to RO30.9bn" (February 25, 2026)
• PV Magazine, "United Solar begins production at Omani polysilicon factory" (February 9, 2026)
• AGBI, "Oman signs $150m Brazil deal as part of food security investment" (February 10, 2026)
• Oman Observer, "OCCI, US delegation explore tech, food investment" (February 1, 2026)
• Oman Observer, "OIA launches 4 strategic projects worth RO 935m" (February 2026)
• Times of Oman, "OIA launches 4 major projects with investments exceeding OMR935mn" (February 2026)
• Oman News Agency, "OIA Launches 4 Major Projects with Investments Exceeding RO 935 Million" (February 2026)
• Zawya / Hellenic Shipping News, "Sohar Port and Freezone, MAK Germany Subsidiaries, and OQ sign agreements" (January 27, 2026)
• PHDCCI Facebook, "Business Delegation to Oman (Muscat & Sohar)" (February 2026)
• NCSI data via Muscat Daily (February 25, 2026)