en.Wedoany.com Reported - Oman plans to build an integrated solar cell and module factory with an annual capacity of 6GW, a project included in the list of 105 strategic projects announced earlier this week by the country's sovereign wealth fund, Oman Future Fund (FFO).

These 105 projects cover renewable energy, manufacturing, tourism, healthcare, medical technology, innovation, and the food industry, and have been granted strategic importance to accelerate Oman's economic diversification. According to a statement released by the Oman Investment Authority (OIA), the 6GW cell and module manufacturing facility will be located in the Sohar Free Zone, touted as "the first of its kind in the Middle East and a cornerstone for localizing the solar value chain." Further details on the manufacturing facility have not yet been disclosed.

The OIA stated that these 105 strategic projects will receive $585 million in funding commitments from the FFO, with approximately $458 million allocated to local investments. The total value of this investment portfolio has reached $1.74 billion. The list of strategic projects also includes the "Gallant Industrial Project," which plans to produce 66,000 tons per year of lithium iron phosphate cathode material. The OIA noted that the production of lithium iron phosphate will enable Oman to tap into the "rapidly growing clean energy and energy storage market."

Over the past few years, Oman has continuously invested in its domestic solar supply chain. Its flagship polysilicon factory, also located in the Sohar Free Zone, has become the largest of its kind outside China since commencing production earlier this year. Project developer United Solar announced earlier this month that the $1.6 billion required for the factory has been fully raised.