Investcorp has signed a cooperation agreement to invest in a $550 million infrastructure project at the Port of Duqm in Oman, aimed at enhancing its capabilities and supporting sustainable development.

Information on the Target

The Port of Duqm, located in the southeastern region of Oman, serves as a pivotal gateway for global trade and commerce with direct access to the Indian Ocean. It is an essential infrastructure asset for the country, functioning as a multipurpose hub capable of handling diverse shipments, including container cargo, dry and liquid bulk, as well as general and bagged cargo. The latest infrastructure investment project undertaken by Investcorp aims to enhance the port's capabilities, particularly through the establishment of a new low-carbon industrial plant within the Special Economic Zone at Duqm.

This new plant is designed to produce low CO2 iron metallics products and ultimately transition to hydrogen-powered steel, commonly referred to as 'green steel.' This expansion aligns with Oman's Vision 2040 and emphasizes the country's commitment to sustainable development while securing its position in the global market.

Industry Overview in Oman

The infrastructure sector in Oman has been undergoing significant transformation as the country capitalizes on its strategic geographical location. With Vision 2040, the Omani government is focused on diversifying the eco