RIYADH: Saudi Arabia’s Investment and an Omani firm have signed a memorandum of understanding to establish a fertilizer plant in the Kingdom to boost its agriculture production.
The new factory will produce liquid fertilizers that provide soluble crop nutrients, helping the Kingdom reach its Vision 2030 goals and targets for the agriculture sector.
In addition to further accelerating agriculture production, the new organic fertilizer plant will help meet domestic and global demand in several partner countries, including Oman, the Gulf Cooperation Council and African countries.
The agreement was signed between the ministry and Al-Aflaj International Co., a private sector firm based in Oman.
The deal is an extension of the bilateral relationships shared between the two nations.
In February, Saudi Arabia and Oman signed an executive program in communications, information technology infrastructure and undersea cable investments.
The agreement was signed between the Kingdom’s Ministry of Communications and Information Technology and Oman’s Ministry of Transport, Communications and Information Technology in the presence of Saudi Arabia’s Abdullah Al-Swaha and Oman’s Said bin Hamoud Al-Ma’awali.
“The program aims to exploit the geographical location of the two countries and promote investment in the submarine and terrestrial cables that pass through them,” the Saudi Press Agency reported.
It will create a shared work environment to enhance cooperation in the infrastructure for communications and information technology services and high-speed digital interconnection for data exchange.
Last November, the two countries agreed to cooperate on energy, the Saudi Press Agency reported.
An MoU was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and his Omani counterpart Salim Nasser Al Awfi on the sidelines of the UN Climate Conference in Egypt.
The deal focused on cooperation in oil, gas, electricity and renewables. It will also facilitate collaboration on carbon capture, reused and storage.
The agreement also includes cooperation on hydrogen and enhancing digital transformation in the energy field.
