OQ to Divest Stake in Majis Industrial Services: Implications for Investors and the Industrial Sector in Oman
OQ Divests Stake in Majis Industrial Services to Investment Consortium
OQ, a global energy investment group, has reached an agreement to sell its stake in Majis Industrial Services, a firm that specializes in industrial water solutions for Suhar’s industrial sector. The buyer is a consortium comprising the Oman Infrastructure Investment Fund (Rakiza) and the international water infrastructure expert IV3 Aqua.
This acquisition will leverage Rakiza’s extensive experience within the local investment landscape alongside IV3 Aqua’s technical and operational prowess in water infrastructure across the Middle East and Asia. The partnership aims to provide a robust platform for Majis to enhance its growth and further its contributions to industrial development in the region.
Azzan al Abdullatif, Chief Portfolio Officer of OQ, commented, “This transaction underscores OQ’s commitment to proactive portfolio management and prudent capital allocation. With Majis transitioning into its next growth phase under new ownership, OQ can channel capital towards opportunities that foster long-term value creation aligned with Oman’s economic goals, as part of our annual divestment program. We are confident that Majis is well equipped to continue delivering reliable services while pursuing future growth.”
Khalid al Khatib, CEO of Rakiza, remarked, “Our investment in Majis demonstrates our strong belief in the significance of essential infrastructure that supports industrial growth in Oman. As Suhar’s leading integrated industrial water platform, Majis offers strategic importance, a distinguished customer base, and secure long-term returns, making it a highly attractive investment that aligns with our long-term strategy.”
Olaf Krohg, CEO of IV3 Aqua, expressed, “Majis is precisely the type of strategic business that IV3 Aqua aims to invest in and develop, considering its critical infrastructure, long-term contractual framework, and leading position in Oman’s industrial water sector. Together with Rakiza, we are eager to support the company’s ongoing growth and provide sustainable long-term value for all stakeholders.”
This transaction is part of OQ’s ongoing portfolio optimization initiative, following successful divestments from Abraj Energy Services, OQ Gas Networks, OQ Exploration & Production, OQ Base Industries, and, most recently, Oman India Fertiliser Company (OMIFCO).
These transactions not only enhance OQ’s investment portfolio but also support its future growth strategies.
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OQ’s divestment of its stake in Majis Industrial Services highlights a strategic shift in capital allocation, allowing the company to focus on long-term value creation while enhancing the infrastructure landscape in Oman. This opens up investment opportunities for entrepreneurs and investors looking to engage with a strengthened water services sector, crucial for supporting industrial growth in Suhar. المستثمرون الأذكياء should consider aligning with local and international partners like Rakiza and IV3 Aqua to capitalize on the expected demand for reliable water infrastructure in the region.
