OQ to Divest Stake in Majis Industrial Services: Key Implications for Investors and Business Growth in Oman
OQ, the global energy investment group, has signed an agreement to divest its stake in Majis Industrial Services, a company specializing in industrial water solutions and utilities for Suhar’s industrial sector. The buyer is an investment consortium consisting of the Oman Infrastructure Investment Fund (Rakiza) and IV3 Aqua, a global water infrastructure specialist.
The partnership leverages Rakiza’s deep expertise in the local investment market and extensive regional network, combined with IV3 Aqua’s technical and operational proficiency in water infrastructure across the Middle East and Asia. This collaboration establishes a robust foundation for Majis to sustain its growth and enhance its support for industrial development throughout the region.
Azzan al Abdullatif, Chief Portfolio Officer of OQ, stated, “This transaction exemplifies OQ’s dedication to proactive portfolio management and disciplined capital allocation. As Majis enters its next growth phase under new ownership, OQ will redirect capital to opportunities aligned with long-term value creation and Oman’s economic priorities, in line with our annual divestment program. We are confident Majis will continue to provide reliable services and pursue future expansion.”
Khalid al Khatib, CEO of Rakiza, remarked, “Our investment in Majis underscores our strong belief in the critical infrastructure that supports industrial growth in Oman. As Suhar’s leading integrated industrial water platform, Majis offers strategic significance, a reputable customer base, and secure long-term contracted returns, making it an exceptionally attractive investment aligned with our long-term strategy.”
Olaf Krohg, CEO of IV3 Aqua, added, “Majis is exactly the type of strategic enterprise IV3 Aqua targets, given its essential infrastructure, long-term contractual framework, and leading position within Oman’s industrial water sector. Together with Rakiza, we look forward to fostering the company’s continued growth and delivering sustainable long-term value to all customers and partners.”
This transaction is part of OQ’s ongoing portfolio optimization programme, following successful partial divestments in Abraj Energy Services, OQ Gas Networks, OQ Exploration & Production, OQ Base Industries, and most recently, Oman India Fertiliser Company (OMIFCO). These moves continue to enhance OQ’s investment portfolio while supporting its future growth objectives.
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OQ’s divestment from Majis Industrial Services and the acquisition by Rakiza and IV3 Aqua highlight a strategic shift towards infrastructure-focused investments that underpin industrial growth in Oman. This transition presents opportunities for smart investors to invest in critical and sustainable water infrastructure with stable, long-term returns, while businesses in Oman can expect enhanced support for industrial expansion through improved water utility services. Entrepreneurs should consider leveraging such public-private partnerships to innovate and expand within Oman’s growing industrial ecosystem.
