Investcorp, a leading global investment firm, is to invest in a US$550 million port infrastructure project at the Port of Duqm in Oman. The investment will be made through Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with Aberdeen, which will become a shareholder in the project, alongside the Port of Duqm Company, the DEME Group and Port of Antwerp Bruges. These stakeholders have come together in a jointly-formed a consortium named CAP INFRA.

This investment reflects AIIP’s mandate to invest in long-term concessions across GCC countries and the broader MENA region, and to develop partnerships with major maritime and port development players, such as the Port of Duqm Company and CAP INFRA.

Located in a prime central location in Oman, the Port of Duqm operates as a multipurpose logistics hub, handling container shipments, dry and liquid bulk, general and bagged cargo. As part of the planned marine infrastructure works, further dredging and the construction of a new quay wall are envisaged and this will service a new low-carbon industrial plant within the Special Economic Zone at Duqm.

The opportunity to invest in the project arose through a competitive bidding process, with AIIP securing the opportunity over four other contenders, highlighting investor confidence in the port’s long term potential. Reggy Vermeulen, Chief Executive Officer at Port of Duqm Company, commented: “We are proud to partner with AIIP to support the development of the port’s infrastructure. This investment is a strong vote of confidence in the Port of Duqm’s vision and future.”