Source: Arabian Business
Bahrain’s Investcorp announced it plans to invest $550 million in an infrastructure project at Oman’s Port of Duqm. The funds will support the expansion of the Port of Duqm, as well as the construction of a low-carbon industrial plant. Investcorp says the investment is part of its longer-term plans to invest in content in the Gulf and the Middle East.
“This investment is closely aligned with AIIP’s mandate to invest in long-term concessions across the GCC countries and the broader MENA region,” said a statement.
Investcorp Aberdeen Infrastructure Partners, a joint venture between the Gulf-based Investcorp and Aberdeen plc will be a shareholder in the Oman project, alongside the Port of Duqm Company, the DEME Group, and Port of Antwerp-Bruges.
In this project, AIIP works with Port of Duqm Company, DEME Group, and Port of Antwerp Bruges. These three companies are a consortium called Cap Infra, who are working to jointly develop the port area.
Significance of Duqm Port
The Port of Duqm is situated in the southeast of Oman. It has direct access to the Indian Ocean and is an important link to the world for international trade. Currently, the port receives a variety of shipments including containers, dry bulk, liquid, and general cargo.
Its location and facilities allow Duqm to be viewed as a significant transformer and trade and transport hub for the region. The investment will help to improve the efficiency and capacity of the Port.
Sami Neffati, Managing Partner of Investcorp Aberdeen Infrastructure Partners, said, “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,”
“We are very excited about the region’s infrastructure prospects.” (The Port of Duqm Company, the DEME Group and Port of Antwerp Bruges together form the ‘Cap Infra’ consortium.)
Part of a Wider Agenda
This is not Investcorp’s first foray into this type of project. The Duqm investment represents the fourth major investment from the AIIP strategy. Previously, they had been involved in ADNOC’s Project Wave in the UAE and two major infrastructure investments in Saudi Arabia.
Investcorp’s growing interest in infrastructure reflects its longer-term interest in supporting the generation of future key sectors in the Gulf. Their investments are meant to support trade and transport and to promote cleaner and greener industries.
