Rakiza’s IV3 Aqua Acquires OQ Stake in Suhar Industrial Water Utility: Implications for Investors and Entrepreneurs in Oman
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MUSCAT, JULY 8 – OQ, the Sultanate of Oman’s global energy investment group, has officially signed an agreement to sell its stake in Majis Industrial Services SAOC, a company specializing in industrial water solutions serving the Suhar industrial sector. The acquisition will be executed by a consortium formed by the Oman Infrastructure Investment Fund (Rakiza) and IV3 Aqua, a global leader in water infrastructure.
This partnership merges Rakiza’s substantial experience in local investments and its extensive regional connections with IV3 Aqua’s technical and operational expertise across water infrastructure in the Middle East and Asia. Together, they aim to provide a robust platform for Majis to enhance its growth and solidify its role in fostering industrial development in the region.
Azzan Al Abdullatif, Chief Portfolio Officer of OQ, commented on the transaction, stating, “This divestment underscores OQ’s commitment to active portfolio management and prudent capital allocation. As Majis embarks on its next growth phase under new ownership, we can redirect capital towards initiatives that align with Oman’s long-term economic goals and our annual divestment program. We believe Majis is well-equipped to continue offering reliable services while pursuing future growth.”
Khalid Al Khatib, Chief Executive Officer of Rakiza, remarked, “Our investment in Majis signifies our strong belief in the critical infrastructure necessary for industrial growth in Oman. As the leading integrated industrial water platform in Suhar, Majis boasts strategic importance, a distinguished customer base, and secure long-term contracted returns, making it an enticing investment opportunity that aligns seamlessly with our long-term strategy.”
Olaf Krohg, Chief Executive Officer of IV3 Aqua, added, “Majis epitomizes the type of strategic business IV3 Aqua aims to invest in and develop, owing to its essential infrastructure and long-term contractual framework within Oman’s industrial water sector. Together with Rakiza, we are excited to support the company’s ongoing growth and deliver sustainable long-term value for all stakeholders.”
This transaction marks another step in OQ’s portfolio optimization efforts, following recent successful partial divestments of various entities, including Abraj Energy Services, OQ Gas Networks, OQ Exploration & Production, OQ Base Industries, and most recently, Oman India Fertiliser Company (OMIFCO). These strategic moves continue to bolster OQ’s investment portfolio while underpinning future growth initiatives.
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The recent divestment of OQ’s stake in Majis Industrial Services to a consortium led by Rakiza and IV3 Aqua signals a strategic shift in Oman’s industrial landscape, emphasizing the importance of critical infrastructure for sustained economic growth. This transition presents فرصتهایی برای سرمایهگذاران to engage in the burgeoning water and utilities sector, while also highlighting the risk of vulnerability for businesses reliant on the stability of local water solutions. Smart entrepreneurs should now consider exploring partnerships or investments in companies with expertise in sustainable infrastructure to capitalize on Oman’s evolving market dynamics.
