Bahrain-based asset management firm Investcorp has announced a $550 million investment to expand Oman’s Port of Duqm, as part of its broader strategy to develop a robust regional infrastructure portfolio.
The investment will be carried out through Investcorp Aberdeen Infrastructure Partners (AIIP)—a joint venture with UK-based fund manager Aberdeen—and will be made alongside Cap Infra, a consortium that includes the Port of Duqm Company, Deme Group, and Port of Antwerp-Bruges.
The expansion project encompasses significant marine infrastructure works, including dredging operations and the construction of a new quay wall, which is intended to support a future low-carbon industrial plant located in Duqm’s Special Economic Zone.
This marks AIIP’s fourth investment in the region, following its backing of a sustainable water project in collaboration with ADNOC in the UAE, and two infrastructure concessions in Saudi Arabia.
Situated on Oman’s southeast coast with direct access to the Indian Ocean, the Port of Duqm is a strategic multipurpose hub handling container cargo, dry and liquid bulk, and general and bagged goods.
According to Investcorp, AIIP was awarded the investment mandate after a competitive selection process, surpassing four other bidders.
With over $55 billion in assets under management, Investcorp maintains a global presence with offices across the United States, Europe, the GCC, and Asia.
Source: agbi.com
