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11-04-23

Saudi Arabia, Oman Strengthen Bilateral Relationship with Fertilizer Plant Agreement

(MENAFN) Saudi Arabia and Oman have signed a memorandum of understanding to establish a fertilizer plant in the Kingdom. The agreement was signed between the Ministry of Investment and Al-Aflaj International Co., a private sector firm based in Oman. The new factory will produce liquid fertilizers that provide soluble crop nutrients, aimed at boosting the Kingdom's agriculture production and reaching its Vision 2030 goals and targets for the agriculture sector. The plant will also help meet domestic and global demand in several partner countries, including Oman, the Gulf Cooperation Council, and African countries.

The bilateral relationship between the two nations is further strengthened with this agreement. In February, Saudi Arabia and Oman signed an executive program to promote investment in communications, information technology infrastructure, and undersea cable investments. The program, signed between the Ministry of Communications and Information Technology in Saudi Arabia and Oman's Ministry of Transport, Communications, and Information Technology, aims to exploit the geographical location of the two countries and 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, with an MoU 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, as well as carbon capture, reuse, and storage. The agreement also includes cooperation on hydrogen and enhancing digital transformation in the energy field.

The establishment of the fertilizer plant is a positive step towards achieving the Kingdom's Vision 2030 goals and targets for the agriculture sector. The new plant will help accelerate agriculture production in the Kingdom and meet domestic and global demand in several partner countries, including Oman, the Gulf Cooperation Council, and African countries. The bilateral relationship between Saudi Arabia and Oman is further strengthened with agreements in various sectors, including communications, information technology infrastructure, undersea cable investments, and energy.
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