Rakiza Infrastructure Fund open to partnerships with equity investors

Oman Infrastructure Fund (Rakiza), set up by the State General Reserve Fund (SGRF) last year, has invited international financial investors to partner with it in the implementation of infrastructure projects across a number of strategic sectors in the Sultanate. Rakiza’s Chief Executive Officer, Muneer al Muneeri (pictured), said the Fund — the first of its kind in the Sultanate — has been uniquely structured to enable foreign equity investors to explore opportunities in Oman’s infrastructure “growth story”. “Rakiza has a unique sort of proposition — a fund structure that allows equity investors to come along with us in investing in the opportunities that we have in the country,” said Al Muneeri. “Today, we have a list of projects that becoming more mature for investors to come on board, and we think for financial investors, it’s always best to do it through funds.” Speaking at the annual meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP), which opened at Sheraton Oman Hotel yesterday, Al Muneeri said Rakiza was an ideal partner for prospective equity investors looking at infrastructure options in the Sultanate. “We understand exactly how financial investors look at such opportunities,” said the CEO. “The opportunity to be an equity participant in the coming few years in Oman in all of these initiatives that we have was addressed through this fund structure, will allow us to build the required projects within the country and at the same time meet the targets that we have.” Earlier, the CEO listed a number of “strategic investment areas” that Rakiza has its sights on. They include Renewables, Oil & Gas, Social Infrastructure, Power and Water, Telecommunications, Transport & Logistics and the Environment. Notable among the key growth areas that require private finance, he said, is the power and water sector, which is almost 90 per cent in private hands. So is the Ports sector where container throughput capacity is projected to soar from 4.8 million TEUs in 2017 to over 20 million TEU by 2040. Investment in healthcare infrastructure, particularly in new hospitals, has promising potential too, he said. Rakiza, which has a term of 12 years, is “sponsored” by the SGRF, the largest sovereign wealth fund of the Sultanate of Oman.