A joint approach towards low-carbon alternatives

MUSCAT: The inaugural royal go to to Singapore will support the continuing efforts of the Sultanate of Oman and Singapore and Oman of their method to have low-carbon alternate options and power effectivity options. Each goal to reinforce the experience of native firms and expedite the adoption of sustainable practices.

Singapore is intrigued by Oman’s dedication to growing the renewable power sector, together with bold plans for hydrogen, photo voltaic, and wind tasks aligned with Oman’s Nationwide Vitality Technique. This technique targets deriving 30 per cent of electrical energy from renewable sources by 2030. A spokesperson from the Singapore Embassy in Oman highlighted Oman’s transformative financial agenda, together with Oman Imaginative and prescient 2040, specializing in financial diversification by way of initiatives like good cities, digitisation, power transition, inexperienced hydrogen improvement, agri-food, and tourism.

A number of Singaporean firms have expressed curiosity in Oman’s inexperienced hydrogen and ammonia tasks. Sembcorp Jinko Shine SAOC, a three way partnership between Sembcorp and Jinko, secured the bid for the event of Manah II, a 500MW PV photo voltaic plant, contributing considerably to Oman’s aim of reaching 30 per cent renewable power in its electrical energy combine by 2030. This mission, valued at round $400 million, is the most important of its sort globally when it comes to capability and is about to be operational by October 2024.

Concerning bilateral commerce, Oman has been a major accomplice for Singapore. In 2022, Oman ranked Singapore’s seventh largest buying and selling accomplice within the MENA area and fifty fifth globally, with complete bilateral commerce amounting to S$1.36 billion. The sectors concerned embrace transport, development, skilled providers, power, and oil and fuel. Noteworthy tasks embrace SembCorp’s partnership for an Impartial Water and Energy Plant and ST Marine’s contract to construct offshore patrol vessels for the Royal Navy of Oman.

Singaporean entities additionally categorical curiosity in supporting Oman’s water wants for hydrogen manufacturing, leveraging Singapore’s experience in water remedy, with firms like SembCorp, Liquinex, and Century Water actively exploring options. Moreover, Oman seeks data alternate in fashionable fishing farming strategies, opening alternatives for collaboration with Singaporean gamers comparable to Blue Aqua.

Collaborations between the Aquaculture Innovation Centre in Temasek Polytechnic and Sultan Qaboos College have been initiated in aquaculture, specializing in coaching, schooling, and analysis alternate programmes. Singapore’s Seafood Industries Affiliation is exploring alternatives in Oman, notably in meals sourcing and joint funding.

Singapore can function Oman’s gateway to Southeast Asia and East Asia, as evidenced by the presence of Omani firms like Financial institution Muscat, OQ Group, and Asyad Delivery in Singapore.

The collaboration extends to areas comparable to civil aviation, atmosphere and concrete improvement, and knowledge and communication know-how, facilitated by way of the Regional Institute for Infrastructure Growth (RIID) and the Civil Service School.

As Oman continues its financial diversification and sustainability efforts, the collaboration between Singapore and Oman holds promise throughout numerous sectors, fostering mutual progress and improvement.