Investcorp Commits $500 Million to Port of Duqm Expansion

Image Source : The Economic Times

Investcorp has announced a significant investment in the expansion of Oman’s Port of Duqm, reinforcing its commitment to infrastructure development in the region. The $500 million project aims to enhance the port’s capabilities, supporting Oman’s economic diversification efforts and strengthening its role as a key trade hub.

Strategic Investment and Infrastructure Growth
- Investcorp Aberdeen Infrastructure Partners (AIIP) will be a shareholder in the project, alongside the Port of Duqm Company, Belgium’s DEME Group, and the Port of Antwerp Bruges
- The expansion includes marine infrastructure works, dredging, and the construction of a new quay wall to support a low-carbon industrial plant for green steel production
- The project aligns with Oman’s Vision 2040, which focuses on sustainable infrastructure and economic diversification

Economic and Trade Impact
- The Port of Duqm, strategically located with direct access to the Indian Ocean, serves as a vital transit point for trade and commerce
- The expansion is expected to boost Oman’s logistics sector, attracting global investments and improving trade efficiency
- The development will support Oman’s decarbonization targets, with plans to produce at least 1 million metric tons of renewable hydrogen annually by 2030

Looking Ahead
- Investcorp’s involvement in the project follows its previous infrastructure investments in the UAE and Saudi Arabia, reinforcing its presence in the Gulf region
- The expansion is expected to create new employment opportunities and enhance Oman’s competitiveness in global trade
- As construction progresses, stakeholders anticipate long-term benefits for regional connectivity and economic growth

Sources: Economic Times, Investcorp Official Website, Zawya.