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Oman to generate $5bn from divestment plan in next five years

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The primary sector to be privatised will be oil and gas, with total expected proceeds exceeding $2.5 billion.

State-owned Oman Investment Authority’s (OIA) recently unveiled divestment plan is likely to generate around OR1.9 billion ($5 billion) over the next five years, Oman Daily Observer reported.

Officials shared the divestment plan details at an investment forum held recently in London, UK.

The primary sector to be privatised is oil and gas, with total expected proceeds exceeding $2.5 billion, the newspaper said.

Other sectors include electricity and water ($1.186 billion), logistics ($702 million), technology ($397 million), food ($156 million), and fisheries ($96 million).

In June, OIA, the sovereign wealth fund, announced divestments from over 30 assets over the five-year timeframe, starting with energy, manufacturing, tourism, and logistics.

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