Investcorp to invest in Port of Duqm expansion

Manama - Investcorp, a leading global alternative investment firm, announces that its infrastructure platform has signed a cooperation agreement to invest in a $550 million

infrastructure project in the Port of Duqm in Oman.

Investcorp Aberdeen Infrastructure Partners (AIIP) – a joint venture with Aberdeen Plc, will be the shareholder in the Project, alongside the Port of Duqm Company, the

DEME Group and Port of Antwerp Bruges jointly formed a consortium named “CAP INFRA”.

This investment is aligned with AIIP’s mandate to invest in long-term concessions across the GCC countries and the broader MENA region, and its strategy to develop long-term partnerships with key industry players, such as the Port of Duqm Company and CAP INFRA.

The new infrastructure at the Port of Duqm marks AIIP’s fourth investment commitment, following ADNOC’s Project Wave in the UAE and two infrastructure

Concessions for social and public assets in the KSA.

The Port of Duqm serves as a crucial gateway and transit point for global trade and commerce, cementing its role as a strategically important infrastructure asset in Oman. Benefiting from a prime central location on the Omani coastline, the Port serves as a multipurpose hub, handling container shipments, dry and liquid bulks, general and bagged

cargo.

The plant aims to produce low-CO2 iron metallics products and, ultimately, hydrogen-powered steel, or ‘green steel’.

The port expansion and ultimate creation of a green steel plant align with Oman’s Vision 2040 and the country’s commitment to sustainable infrastructure development.

The opportunity to invest in the project was a competitive process, with AIIP securing the mandate over four other parties.

Mohammed Alardhi, executive chairman at Investcorp, said, “The Port of Duqm is one of the most strategically important seaports in the world. We are pleased to be investing not only in one of Oman’s largest infrastructure projects, but in Oman’s Vision 2040, contributing to the goal of achieving carbon neutrality by 2050.”

Sami Neffati, Managing Partner of AIIP, commented: “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. Securing this transaction demonstrates our ability to offer investors access to unique

opportunities. We are very excited about the region’s infrastructure prospects.”

Reggy Vermeulen, Chief Executive Officer at Port of Duqm Company, said, “We are proud to partner with a strategic foreign direct investment from AIIP, a renowned global investment group, to support the development of the port’s infrastructure. This investment is a strong vote of confidence in the Port of Duqm’s vision and future. It reflects the trust of international partners in our growth story and Oman’s broader economic ambitions. Through this opportunity, we will not only increase capacity but also advance sustainable industry by supporting future-facing projects like green steel production.”