In 2023, the Oman Investment Authority plans to invest $5 billion on projects

Oman Investment Authority, the Gulf state’s sovereign wealth fund, aims to spend 1.9 billion rials ($4.95 billion) on investment projects in 2023, state media reported on Tuesday. The OIA said the financing will come from the local and foreign private sectors, from financing institutions, or from the agency itself or its subsidiaries. The OIA has also reportedly joined a group of foreign investors to invest $214 million in Group14 Technologies, a battery materials manufacturing company based in the US. Group14 develops lithium-silicon battery materials and aims to replace the standard lithium-ion batteries.

Read the original article in Arab News: Oman Investment Authority aims to spend $5 billion on projects in 2023