Investcorp has announced – today, Monday, that it has entered into an investment agreement in a expansion project in Duqm Port in the Sultanate of Oman, at a value of $ 550 million.
Infescorp stated – in a statement – that its unit concerned with infrastructure (Investcorp Aberdeen Infranscher Partners) will be a contributor to the project within the (consortium) coalition formed by the Duqm Port Company, the Dim Group and Antwerp Bruges.
The port of Duqm is located on the southwestern coast of the Sultanate of Oman near the major oil and gas projects there, and it works as a multi -purpose center, as it deals with the shipments of containers, dry and liquid goods and ship loads.
The expansion project includes naval infrastructure, bulldozing and building sides of a new berth that will serve a new low -carbon industrial plan to produce steel in an environmentally friendly.
Diversify the economy
The Sultanate of Oman, a small oil product that is not a member of the Organization of Petroleum Exporting Countries (OPEC), follows the example of other Gulf states in efforts to diversify the economy aimed at reducing dependence on oil revenues.
As part of these efforts, the Sultanate is investing in strengthening its carbon removal goals, with the aim of producing at least one million metric tons of green hydrogen annually by 2030, according to a report published by the International Energy Agency in 2023.
Investcorp announced – Monday – that the Investcorp Unit of Infruit Partners) got an authorization to invest in the Duqm Port project after a “competitive process”.
The company, which was established in 1982 in Bahrain, is ranked 55 billion dollars. It is famous for the inclusion of brands for luxury commodities such as Gucci and Tifani & Co, but it has expanded in the field of private credit and assets, including infrastructure.
