InvestCorp has secured a $550 million investment agreement to expand the port of Duqm in Oman, reflecting a growing focus on regional infrastructure development. The company’s infrastructure platform, Investcorp Aberdeen Infrastructure Partners (AIIP), will join a consortium that includes the Port of Duqm Company, Deme Group, and the Port of Antwerp Bruges.
Located on Oman’s southwest coast, Duqm port serves as a multi-purpose hub for container services, dry and liquid cargo, and freight operations. The expansion will involve marine infrastructure upgrades, including excavation and the construction of a new quay wall, aimed at launching an industrial facility for green steel production.
As a small non-OPEC producer, Oman is pursuing economic diversification to reduce its reliance on oil revenues. The government has prioritized investments that align with decarbonization goals, aspiring to produce at least 1 million tons of renewable hydrogen annually by 2030, according to a 2023 IEA report.
Investcorp noted that AIIP acquired the mandate for this project following a competitive selection process. Established in 1982 in Bahrain, Investcorp manages assets totaling $55 billion and is recognized for its involvement with luxury brands such as Gucci and Tiffany & Co.
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