Muscat – Oman Investment Authority (OIA) has signed agreements to acquire stakes in two Turkish companies operating in strategic minerals and defence technology through the US$500mn Omani-Turkish joint fund.

The agreements were signed in Istanbul on Friday under the Turkiye Oman Investment company, established in 2025 by OIA and Turkey’s sovereign fund OYAK, with US$250mn contributed by each side.

The first agreement covers Samas Mining, which produces sodium bentonite used in oil and gas drilling, industrial applications, and medical and cosmetic products. The company operates the Tokat bentonite deposit in Turkiye, described as one of only two remaining deposits of its kind globally. Reserves at the site are expected to last around 200 years.

Under the share purchase agreement, Samas plans to expand production capacity from 160,000 tonnes per year to more than 300,000 tonnes per year. The deal will give Oman priority access to sodium bentonite to support domestic sectors, including oil and gas and industry.

The second agreement involves Tekatron, an Ankara-based company that designs and manufactures remotely operated unmanned ground military vehicles. The investment marks OIA’s entry into advanced defence systems through the joint platform.

The Tekatron deal is expected to strengthen Oman’s access to advanced ground systems for border security, surveillance and military logistics. It will also explore opportunities to localise related technologies in the sultanate.

Ibrahim Al Eisri, Head of Private Markets Investments at OIA, said, “Through these investments, we aim to serve priority local sectors, including oil and gas, industry, logistics and military equipment.”

The US$500mn Omani-Turkish fund focuses on joint investments and technology transfer across mining, logistics, industry, agriculture and renewable energy. The latest agreements reflect a strategy to diversify OIA’s portfolio while securing access to rare minerals and specialised technologies aligned with national priorities.