Investcorp to invest in expansion of Oman's Port of Duqm
Investcorp Aberdeen Infrastructure Partners ('AIIP') – a joint venture with Aberdeen plc, will be the shareholder in the project, alongside the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges (jointly formed a consortium named CAP INFRA).
This investment is closely aligned with AIIP's mandate to invest in long-term concessions across the GCC countries and the broader Middle East and North Africa (Mena) region, and its strategy to develop long-term partnerships with key industry players, such as the Port of Duqm Company and CAP INFRA. The new infrastructure at the Port of Duqm marks AIIP's fourth investment commitment, following Adnoc's Project Wave in the UAE and two infrastructure concessions for social and public assets in Saudi Arabia.
The Port of Duqm, situated in the south-east of Oman with direct access to the Indian Ocean, serves as a crucial gateway and transit point for global trade and commerce, cementing its role as a strategically important infrastructure assets in Oman. Benefiting from a prime central location on the Omani coastline, the Port serves as a multipurpose hub, handling container shipments, dry and liquid bulks, general and bagged cargo.
As part of the marine infrastructure works, dredging and construction of a new quay wall are envisaged which will service a new low-carbon industrial plant within the Special Economic Zone at Duqm. The plant aims to produce low CO2 iron metallics products and, ultimately, hydrogen powered steel, or 'green steel'. The port expansion and ultimate creation of a green steel plant aligns with Oman's Vision 2040 and the country's commitment to sustainable infrastructure development.
The opportunity to invest in the project was a competitive process, with AIIP securing the mandate over four other parties.
Mohammed Alardhi, Executive Chairman at Investcorp, commented: 'The Port of Duqm is one of the most strategically important seaports in the world. We are pleased to be investing not only in one of Oman's largest infrastructure projects, but in Oman's Vision 2040, contributing to the goal of achieving carbon neutrality by 2050.'
Sami Neffati, Managing Partner of AIIP, commented: 'We are delighted to partner with the Port of Duqm Company and CAP INFRA to expand this important shipping hub and further secure trading routes to and from the region. Securing this transaction demonstrates our ability to offer investors access to unique opportunities. We are very excited about the region's infrastructure prospects.'
Reggy Vermeulen, chief executive officer at Port of Duqm Company, commented: 'We are proud to partner with a strategic foreign direct investment from AIIP, a renowned global investment group, to support the development of the port's infrastructure. This investment is a strong vote of confidence in the Port of Duqm's vision and future. It reflects the trust of international partners in our growth story and in Oman's broader economic ambitions under Vision 2040.
Through this opportunity, we will not only increase capacity but also advance sustainable industry by supporting future-facing projects like green steel production.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Enhancing the socioeconomic contribution of Oman's fisheries sector
The Sultanate of Oman has a coastline stretching over 3,165 kilometres, providing diverse fisheries resources that the Omanis have depended on for socio-economic activities for centuries. Fishing has traditionally been the cornerstone of Oman's economy and has for a long time been considered as a way of living. With the emergence of Vision 2040, Oman aspires to diversify its economy and the fisheries sector is poised to become a potential driver for economic development. The impact of the fisheries sector goes beyond the economic opportunities—fishing communities across the coastal governorates have a unique and rich cultural heritage that is closely intertwined with the marine ecosystem. Fishing communities hold rich traditions which include folk dances, cuisines, and storytelling which emphasize the significance of the fishing culture. From a social perspective, the fisheries sector uplifts rural communities, creating a pathway for inclusive development to provide social, economic, and food security to vulnerable households. Although women's contributions in post-harvest activities, like processing and trading, are often overlooked, these roles are impactful. There is, however, a lack of adequate support for women's groups and social advocacy has sought to improve these conditions. EXPORT LOGISTICS Oman is strategically located near the Arabian Sea which is advantageous for international and regional exports. Oman's logistics and cold chain capabilities have greatly improved with the modern fishing ports such as Duqm and Raysut. These ports have sophisticated freezing, processing, and warehousing facilities which diminish spoilage and ensure international food and safety standard compliance. Oman has exported over 218,000 tonnes of fish by the end of 2024 and has been selling to over 70 countries. The key trade markets include the GCC, East Asia, and Europe. The government is developing new trade agreements and certifications to penetrate desired markets such as Japan, South Korea, and the European Union. Oman is continuing to enhance its seafood exportation by maintaining streamlined customs, implementing digital tracking, and investing in cold chains. REGIONAL CONTRIBUTIONS Each of Oman's governorates has unique contributions in the fisheries sector. Al Wusta Governorate has emerged as a hub for large-scale aquaculture and deep-sea fishing. Musandam Governorate is well-known for its artisanal and reef fishing because of the fjord-like coastline. Dhofar is known for both coastal fisheries and inland aquaculture, and Al Batinah North and South specialize in the harvesting of sardines and mackerels. The dispersal of fisheries activities minimizes the growing imbalance of economic development in the country while also addressing the issue of rural-urban migration. The region's economic processing plants, education institutions, and fishing cooperatives contribute toward the development of the entire region. ENVIRONMENTAL CHALLENGES The impact of climate change is a growing concern Oman's fisheries industry. The rising temperatures of the sea, acidification, and shifting migration of species can impact the availability of fisheries as well as the catch. Furthermore, the seasonal upwelling cycles that supply nutrient-rich waters are especially vulnerable to climate change. Oman is addressing these challenges by implementing climate-resilient adaptations such as real-time oceanographic monitoring and ecosystem-based modeling. Multinational marine research organizations are collaborating to aid in climate impact assessments, and in-country climate forecasting. Mangrove, seagrass, and coral reef conservation—critical to the ecosystem as breeding and nursery grounds—are part of a broader strategy to climate change adaptation. CONCLUSION In the long-term, Oman's fisheries sector can serve as a valuable opportunity to contribute toward the country's economy. The vision and the intentions, in alignment with the government answering to the growing calls for investment and aid in the sector, will aid fortifying the industry as a benchmark for developmental aid. As Oman develops other sectors apart from hydrocarbons, fisheries blend tradition with modern innovation and showcase Oman's resilience. The country's fisheries sector, from the thriving artisanal ports to the modern Duqm processing plants, demonstrate the multifaceted value addition achieved which transcends mere economic benefits to include social and environmental gains. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Arabian Post
2 days ago
- Arabian Post
Mira Developments Expands into Oman with Major Investment
Arabian Post Staff -Dubai Mira Developments, a UAE-based luxury real estate developer, has made a significant move into Oman with the acquisition of a one million square foot plot of land in the Dhofar Governorate. This strategic expansion positions the company to tap into the growing demand for luxury properties in Salalah, particularly as the region gains attention for its potential in high-end tourism and residential developments. The announcement came shortly after Mira Developments hosted a high-profile three-day mastermind retreat that brought together over 100 top-tier real estate professionals. The retreat, which included brokers, architects, and representatives from luxury brands, marked a pivotal moment in the company's ambitious expansion strategy. The event served as both a networking platform and a launchpad for the company's upcoming developments in Oman, including the highly anticipated Mira Coral Bay project. ADVERTISEMENT Mira Developments' decision to enter the Omani market underscores its broader vision to become a leader in luxury branded living across the Gulf Cooperation Council region. With a focus on integrating premium design, sustainability, and lifestyle excellence, the company aims to set new standards for luxury communities in the region. The project will not only contribute to the local economy but also elevate the standards of residential living in Salalah, which is emerging as a prime destination for affluent residents and tourists. The retreat, which was set against the picturesque backdrop of Salalah's unique natural landscape and the refreshing Khareef season, proved to be the perfect setting for brainstorming and collaboration. The event featured a series of workshops and strategic roundtable discussions that aimed to push the boundaries of innovation in real estate. Participants explored opportunities for cross-sector collaboration and exchanged insights on future trends in luxury living, from sustainable architecture to cutting-edge smart home technology. The Dhofar region, known for its lush green landscapes and pristine coastline, offers a distinctive appeal for luxury developments. Salalah, in particular, is poised to benefit from its increasing popularity as a year-round destination. The Khareef season, which attracts tourists with its cool climate and stunning natural beauty, provides an ideal environment for high-end real estate projects designed to offer both comfort and exclusivity. Mira Coral Bay, the flagship development, is expected to feature world-class amenities, including bespoke residences, upscale retail spaces, and recreational facilities, all designed to cater to the discerning tastes of luxury buyers. The development will incorporate sustainable practices, aligning with Mira Developments' commitment to environmental responsibility. The company has also indicated that its approach will prioritise creating harmonious, eco-friendly communities that blend seamlessly with the natural surroundings of Salalah. Real estate experts have noted that the luxury property market in Oman is ripe for development, particularly in regions like Dhofar. With its stunning landscapes and growing infrastructure, Salalah offers an attractive proposition for high-end investors looking for new opportunities outside of the more saturated markets in the UAE and Saudi Arabia. The entry of Mira Developments into the Omani market is seen as a significant endorsement of the potential of Salalah as a luxury destination, and the project is expected to attract both regional and international investors. While Mira Developments' focus is on luxury properties, its broader vision extends beyond just creating high-end residences. The company aims to shape the future of luxury living by fostering innovation and collaborating with leading experts across industries. Through its strategic expansions, Mira Developments is positioning itself as a key player in the future of real estate development in the GCC region.
Time Out Abu Dhabi
5 days ago
- Time Out Abu Dhabi
This is the new train that will take you from Abu Dhabi to Oman in under 2 hours
Work has begun on the much-anticipated multi-billion-dollar UAE-Oman railway project. Plans for a railway between the neighbouring GCC nations have been in the offing since 2022 and work is finally underway. The railway project will initially operate between the UAE capital of Abu Dhabi and the Omani port city of Sohar. The project will cover a distance of 303km and travel at speeds of up to 200km/h. And it will be equipped to handle the diverse terrains between the two countries, as well as any unpredictable weather conditions and water flow from surrounding valleys. Innovative and sustainable engineering solutions will ensure safe journeys. Work on the huge project got underway in May 2024, following a shareholder agreement between Hafeet Rail, a company made up of Etihad Rail and Oman Rail, and construction companies. Works are progressing along the railway alignment between the two nations. The update pointed out that progress is underway in several areas in North Al Batinah and Al Buraimi governates in Oman and in the emirate of Abu Dhabi. To date, more than one million man-hours have been clocked in developing the railway. The name of Hafeet Rail for the project was decided following the joint UAE-Oman Business Forum held in Abu Dhabi on Tuesday April 23. You might also like: Etihad Rail passenger train: Everything we know so far Partnership agreements have been signed between stakeholders, major construction contracts have been awarded and companies between both borders will operate as joint teams for the project. What the UAE-Oman Hafeet Rail means for you Initially, it will operate between the Al Wathba area near Abu Dhabi and the Omani port city of Sohar. With a speed reaching 200 kilometres per hour, journeys between Abu Dhabi and Sohar will take 100 minutes. Passenger trains will be able to accommodate up to 400 people. The project board aims to 'establish a record-breaking timeline for implementation', so expect it to be established sooner than you think. The freight train will have a capacity equivalent to 300 trucks which will reduce carbon emissions generated by trucks by 80 per cent. Etihad Rail passenger train (Credit: Etihad Rail) It will pass through diverse geographical areas, including the desert and mountainous regions and along Jebel Hafeet – which is where the new Hafeet Rail brand derives its name. The railway aims to be a quick and efficient way of connecting the two countries, which is hoped to reduce car traffic and, consequently, the carbon footprint. This railway project would see the two Gulf countries connect and align with long-term plans for the GCC vision of a Gulf Railway. The Gulf Railway was planned to be opened by 2025, but construction has yet to begin in earnest. And, for businesses, it's predicted that it will have a major impact on trade between the two countries as one freight train trip is capable of transporting 15,000 tonnes of general cargo. Hafeet Rail will connect five major ports and a number of free zones in both countries and will see transportation time cut in half compared to traditional on-ground methods. Hafeet Rail represents a groundbreaking achievement as the first modern cross-border train in the Middle East and the Arab world, connecting the Sultanate of Oman to the United Arab Emirates. — Hafeet Rail (@hafeetrail) June 2, 2024 Living in the UAE Everything you need to know about traffic cameras in Abu Dhabi No, they're not just for speed When is the next public holiday? Here's when you'll have your next day off 5 unexpected Emirates ID perks you should seriously be using And yes, they all make our lives a little bit easier
