Latest news with #PortOfDuqm
Times of Oman
3 days ago
- Business
- Times of Oman
Port of Duqm wins the ‘Quality Choice 2025' Diamond award by European Society for Quality Research
Muscat: In a prestigious international ceremony held in the Swedish capital Stockholm, the Port of Duqm was awarded the 'Quality Choice 2025 – Diamond Category' by the European Society for Quality Research (ESQR). This honour recognises the port's strong commitment to business ethics, pioneering initiatives in quality management and sustainability, and its exceptional success at a global institutional level. A total of 48 institutions from 41 countries across Europe, Asia, the Americas, Africa, and Australia were selected to receive this year's award. During the ceremony, Eng. Hashim Tahir Al Ibrahim, Chief Business Support Officer at the Port of Duqm, gave a speech expressing the port's pride in this recognition, stating: 'This award not only reflects the strength of our systems and procedures, but it also embodies the vision and commitment of every individual at Port of Duqm. We don't just provide logistics services — we play a strategic role in building a green economic future for the Sultanate of Oman.' A strategic gateway Al Ibrahim highlighted that the Port of Duqm is more than a maritime port; it serves as a strategic gateway between the Middle East and Europe and is leading efforts to become a regional hub for green hydrogen, in alignment with Oman Vision 2040. He emphasised that the concept of quality at the Port of Duqm goes beyond performance indicators. It encompasses customer satisfaction, employee safety, operational efficiency, and a continuous drive for digital transformation and innovation. He also shed light on current and future environmental sustainability projects, including the development of green infrastructure, the use of solar energy, biofuels, and equipment powered by electricity and hydrogen. Al Ibrahim also reviewed the port's efforts to protect marine life, such as preserving Arabian Sea humpback whales, restoring coral reefs, and researching seaweed farming, in collaboration with partners and the local community. He stressed that Port of Duqm's philosophy of quality is rooted in social, economic, and environmental sustainability, aligning all initiatives with the United Nations Sustainable Development Goals (SDGs) and supporting youth empowerment and entrepreneurship in Al Wusta Governorate through social responsibility and training programmes. He concluded by saying: 'This recognition marks a new starting point toward achieving higher levels of excellence. We dedicate this achievement to our partners, stakeholders, and our community, and we look forward to a more sustainable, inclusive, and quality-driven future.'
Zawya
20-05-2025
- Business
- Zawya
Oman: $550mln for Duqm port expansion
MUSCAT: Investcorp, the global alternative investment firm, has announced a landmark $550 million investment in Oman's Port of Duqm, marking one of the largest foreign direct investments into the country's maritime infrastructure. The investment will be made through Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture between Investcorp and Aberdeen plc, and will be undertaken alongside the Port of Duqm Company and international partners DEME Group and Port of Antwerp-Bruges. The consortium, operating under the name 'CAP INFRA,' will spearhead the development. The deal marks AIIP's fourth major infrastructure commitment, following investments in ADNOC's Project Wave in the UAE and two public and social asset concessions in Saudi Arabia. It reinforces AIIP's focus on long-term infrastructure assets across the GCC and broader MENA region. Located on Oman's southeastern coast with direct access to the Indian Ocean, the Port of Duqm is positioned as a vital global trade and logistics hub. It plays a pivotal role in the Sultanate of Oman's economic diversification efforts and its Vision 2040 strategy. The expansion project includes major marine infrastructure works, such as dredging and the construction of a new quay wall, which will service a planned low-carbon industrial plant within the Special Economic Zone at Duqm. The facility is expected to produce low CO₂ iron metallics and eventually hydrogen-powered 'green steel,' aligning with Oman's net-zero ambitions. AIIP secured the investment mandate through a competitive bidding process that saw interest from four other parties. Mohammed Alardhi, Executive Chairman at Investcorp, said:'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, stated: '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, CEO of 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.' The project is expected to significantly enhance Oman's port capacity and catalyse industrial growth in Duqm, further positioning the Sultanate of Oman as a regional leader in sustainable logistics and green industry. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Reuters
19-05-2025
- Business
- Reuters
Investcorp to invest in $500 million expansion of Oman's Port of Duqm
DUBAI, May 19 (Reuters) - Investcorp ( opens new tab has entered an agreement to invest in the $550 million expansion of the Port of Duqm in Oman, the Middle East's biggest alternative investment firm said on Monday, as it deepens investments in regional infrastructure assets. The firm's infrastructure platform, Investcorp Aberdeen Infrastructure Partners (AIIP), will be a shareholder in the project, alongside a consortium formed by the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges, Investcorp said in a statement. Duqm port, located on Oman's southwest coast, lies close to its major oil and gas projects, and serves as a multipurpose hub, handling container shipments, dry and liquid bulks as well as cargo. The expansion project envisages marine infrastructure works, dredging and the construction of a new quay wall that will service a new low-carbon industrial plan for green steel production. Oman, a small non-OPEC producer, is following other Gulf countries in economic diversification efforts aimed at reducing dependence on oil revenues. As part of the efforts, the country has been investing to support its decarbonisation targets, with the aim of producing at least 1 million metric tons of renewable hydrogen a year by 2030, according to a report published by the IEA in 2023. Investcorp said on Monday that AIIP had secured the mandate to investing in the Port of Duqm project after a "competitive process". The company, founded in 1982 in Bahrain, manages assets worth $55 billion. It is best known for listing luxury goods brands such as Gucci and Tiffany & Co, but it has branched out into private credit and assets including infrastructure.
Zawya
19-05-2025
- Business
- Zawya
Bahrain's Investcorp to spend $550mln on Oman's Port of Duqm expansion
Bahrain's Investcorp will invest $550 million on the expansion of Oman's Port of Duqm through its infrastructure platform. Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with the LSE-listed Aberdeen Group, will be the shareholder in the project, alongside the Port of Duqm Company, Belgium's DEME Group and the Port of Antwerp Bruges, under the consortium 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, is a transit point for trade and commerce for the sultanate. (Writing by Bindu Rai, editing by Seban Scaria)
