Latest news with #MusandamGlobalInvestment


Observer
03-06-2025
- Business
- Observer
Shipbuilding, maintenance project pact signed
KHASAB: Musandam Global Investment company and its Turkish business partners on Tuesday signed an agreement to establish Musandam Drydock and Marine Industries Company. The agreement deals with launching a strategic project in Musandam Governorate, with an investment cost of more than RO 5 million in its first phase, to provide a set of vital services like construction and maintenance of fish farming cages, coastal and commercial fishing vessels, marine tugs, service vessels and transport vessels. The company will take steps to meet the needs of the Omani market and neighbouring regional markets, besides enhancing industrial integration in the marine and fisheries services sector. The project will keep pace with national trends in promoting food security and sustainable industrial growth. The signing ceremony was attended by Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources, and Sayyid Ibrahim bin Said al Busaidy, Governor of Musandam. - ONA


Times of Oman
03-06-2025
- Business
- Times of Oman
Agreement signed for key shipbuilding and maintenance project in Musandam
Musandam: Musandam Global Investment company and its Turkish business partners on Tuesday signed an agreement to establish Musandam Drydock and Marine Industries Company. The agreement deals with launching a strategic project in Musandam Governorate, with an investment cost of more than OMR5 million in its first phase, to provide a set of vital services like construction and maintenance of fish farming cages, coastal and commercial fishing vessels, marine tugs, service vessels and transport vessels. The company will take steps to meet the needs of the Omani market and neighbouring regional markets,besides enhancing industrial integration in the marine and fisheries services sector. The project will keep pace with national trends in promoting food security and sustainable industrial growth. The signing ceremony was attended by Dr. Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources, and Sayyid Ibrahim Said Al Busaidi, Governor of Musandam.


Zawya
26-05-2025
- Business
- Zawya
Airborne Wind Energy set to make Oman debut
MUSCAT: A Polish-based clean energy company specializing in harnessing wind energy through the deployment of kite sails, has been tapped to introduce this technology in Musandam Governorate for the first time in Oman. The renewable energy technology, formally known as Airborne Wind Energy (AWE), will be deployed by Njord Energy Inc, headquartered in the Polish city of Wroclaw, under a partnership agreement signed with Musandam Global Investment Co SAOC, a community-owned, publicly-listed closed joint stock company. 'This initiative is a bold step forward in aligning with Oman Vision 2040, promoting energy diversification, environmental stewardship, and technological localization. By supporting the local development and future manufacturing of AWE components, we aim to stimulate regional innovation, create high-value jobs, and open export opportunities for homegrown solutions,' said Musandam Global Investment Co in a post. The partnership will pave the way for the development of a pilot project that 'leverages high-altitude wind and AI-powered systems to deliver clean, sustainable energy to Musandam's remote and mountainous areas,' it added. Njord Energy says its Airborne Wind Energy system utilizes kite sails to capture wind energy efficiently at altitudes up to 1,000 meters. 'This plug-and-play system operates autonomously, generating power from 10 kW to over 500 kW with minimal environmental impact and at a significantly lower cost than traditional turbines,' it noted on its website. Given the Musandam's remote and rugged mountainous settings, Airborne Wind Energy (AWE) technology – a term also associated with Kite Wind Power or Tethered Wind Energy Systems – is seen as cost-competitive in supplying clean electricity to small, isolated communities distributed across the governorate. These systems typically harness wind energy at higher altitudes (between 200 and 1,000 meters) using tethered flying devices such as kites, drones, or gliders. They can access stronger and more consistent wind currents than conventional wind turbines, which are typically limited to around 100–150 meters in height. The commercialization of Airborne Wind Energy in Musandam can potentially drive the deployment of this technology in supporting the sustainable energy requirements of remote communities located elsewhere along coastal or mountainous parts of the country. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (