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Oman signs $250m EV and battery plant deal with Korea’s EL B&T in Duqm

May 12, 2026·Gulf BusinessEconomy

Disclaimer

This news item is AI-rewritten from public sources for GCC context. For informational purposes only. Not investment advice, a solicitation, or a recommendation. Consult a licensed financial advisor before making any investment decision.

GCC CONTEXT

Oman's industrial diversification strategy, anchored on the Duqm Special Economic Zone, has increasingly attracted manufacturing partnerships in renewable energy and automotive sectors as the sultanate seeks to reduce hydrocarbon dependency. South Korean battery and EV component manufacturers have become significant players across GCC industrial zones, reflecting broader regional shifts toward localized production of clean energy technologies and electric vehicle supply chains. Battery and EV manufacturing investments typically correlate with sectoral demand patterns in Gulf markets, where government procurement policies and domestic automotive electrification targets influence capital deployment in upstream industrial capacity.

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