Oman Observer has reported that Brazilian iron ore mining giant Vale has acquired the 30% shareholding of Oman state energy company OQ Group in Vale Oman, located in the industrial complex of Sohar in Oman. OQ Group’s CEO Mr Talal Hamed said that the sale is in line with the objective of the Oman Investment Authority of attracting and increasing foreign direct investments. The 70:30 Joint Venture between Vale and OQ was established in 2007, with investments of USD 2.0 billion. Vale Oman includes an iron ore pellet plant, having a 9.0 million tonnes per year production capacity and a distribution center for iron ore and pellets, with a 40 million tonne per year capacity.
Oman Observer has reported that Brazilian iron ore mining giant Vale has acquired the 30% shareholding of Oman state energy company OQ Group in Vale Oman, located in the industrial complex of Sohar in Oman. OQ Group’s CEO Mr Talal Hamed said that the sale is in line with the objective of the Oman Investment Authority of attracting and increasing foreign direct investments. The 70:30 Joint Venture between Vale and OQ was established in 2007, with investments of USD 2.0 billion. Vale Oman includes an iron ore pellet plant, having a 9.0 million tonnes per year production capacity and a distribution center for iron ore and pellets, with a 40 million tonne per year capacity.
