An Omani sovereign wealth fund has signed a memorandum of understanding with Iran's biggest auto maker, Iran Khodro Industrial Group, to study a proposal for a USD200 million auto plant in Oman, an official of the fund said on Wednesday. The MoU is one of the first signed between a major Iranian company and a Gulf Arab state since international sanctions against Iran were lifted earlier this month. Traditionally, Oman has had closer ties to Iran than its Arab neighbours. Oman Investment Fund agreed with Khodro to study the creation of a venture, Orchid International Auto, that would set up a plant at the southern Omani port of Duqm, Khalid al-Yahmadi, investment director for resources, manufacturing and logistics at the Omani fund, told Reuters. (Reuters)