Rakiza deepens Oman’s water infrastructure push

MUSCAT: Rakiza Fund I and IV3 Aqua have agreed to acquire Majis Industrial Services SAOC from OQ, strengthening private-sector investment in Oman's industrial water infrastructure as the Sultanate accelerates efforts to support manufacturing growth and economic diversification under Vision 2040.
The acquisition brings together Rakiza Fund I, co-managed by Oman Infrastructure Investment Management (Rakiza) and Equitix, with specialist water infrastructure investor IV3 Aqua to take ownership of Majis, the country's leading integrated industrial water utilities provider serving SOHAR Port and Freezone under a long-term concession framework.
Majis supplies cooling seawater, process water, potable water and wastewater treatment services to a broad base of industrial customers operating in Sohar, one of Oman's largest industrial and logistics hubs. The transaction marks another step in expanding private investment in strategic infrastructure supporting the Sultanate of Oman's industrial economy.
Rakiza said the partnership with IV3 Aqua combines long-term infrastructure investment with specialist expertise in the water sector, positioning Majis for its next phase of growth through improved operational performance, sustainable development and reliable service delivery.
Khalid al Khatib, Chief Executive Officer of Rakiza, said the investment reflected confidence in infrastructure assets that underpin Oman's industrial expansion.
'As the leading integrated water utilities platform in SOHAR, Majis combines strategic importance, a high-quality customer base and long-term contracted revenues, making it a highly attractive investment that aligns with our long-term strategy,' he said.
IV3 Aqua said the acquisition builds on its existing investments in Oman, where it owns and operates the Qurayyat Independent Water Project, including the 200,000-cubic-metre-per-day desalination plant.
The company said adding Majis significantly expands its operational footprint across the Sultanate while reinforcing its commitment to investing in critical water infrastructure needed to support industrial development.
'As Oman advances its Vision 2040 ambitions, reliable and resilient water infrastructure will play an increasingly important role in enabling sustainable industrial expansion,' IV3 Aqua said in a statement.
It added that the acquisition strengthens its ability to provide reliable, large-scale water solutions for industrial customers while supporting long-term economic growth and creating lasting value for customers, stakeholders and local communities.
The deal also highlights continued international investor interest in Oman's infrastructure sector, particularly assets with stable, long-term contracted revenues.
Rakiza said the investment supports the government's strategy of increasing private-sector participation in strategic assets while demonstrating the attractiveness of the Sultanate's infrastructure market to long-term institutional capital.
Rakiza Fund I focuses on essential infrastructure investments across the Sultanate of Oman and Saudi Arabia, while Equitix manages about $20 billion in infrastructure assets globally. Rakiza currently co-manages more than $2 billion in infrastructure assets spanning utilities, transport, telecommunications, energy and social infrastructure.