BUSINESS REPORTERMUSCAT, MAY 17In a move designed to reinforce the Sultanate of Oman’s position within the global green economy, UK-based biotechnology firm HutanBio has entered into a strategic Memorandum of Understanding with Oman’s Utopia World Investment (UWI) to support the growth of a sustainable fuels sector in Oman.Utopia is a majority shareholder in Wakud International, which owns and operates Oman’s first dedicated biodiesel refinery.The collaboration seeks to develop and scale next-generation sustainable biofuel production, directly supporting the industrial innovation and economic diversification goals outlined in Oman Vision 2040.

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