Bahrain’s investment firm, Investcorp, will invest $550 million into an infrastructure project at Oman’s Port of Duqm. This funding will be facilitated through Investcorp’s dedicated infrastructure platform.

Investcorp Aberdeen Infrastructure Partners, a joint venture between the Gulf company and Aberdeen plc, will partner with the Port of Duqm Company, the DEME Group, and Port of Antwerp Bruges in this endeavor. A statement from the firm highlighted that this investment aligns with the Aberdeen Infrastructure Partners’ mandate to focus on long-term concessions across the Gulf Cooperation Council (GCC) countries and the broader Middle East and North Africa (MENA) region.

This latest investment marks the fourth commitment for Investcorp Aberdeen Infrastructure Partners, following their involvement in ADNOC’s Project Wave in the UAE, as well as two infrastructure concessions for social and public assets in Saudi Arabia. The Port of Duqm is strategically located in southeast Oman and provides direct access to the Indian Ocean, serving as a vital gateway and transit point for global trade and commerce.

The Port operates as a multi-purpose hub, managing container shipments, dry and liquid bulks, in addition to general and bagged cargo. Sami Neffati, Managing Partner of Investcorp Aberdeen Infrastructure Partners, expressed his enthusiasm for the project, stating, “We are delighted to partner with the Port of Duqm Company and Cap Infra to expand this important shipping hub and further secure trading routes to and from the region.”

The new investments will include significant marine infrastructure works at the Port of Duqm, such as dredging and the construction of a new quay wall. This infrastructure will support a new low-carbon industrial plant situated within the Special Economic Zone at Duqm, which aims to produce low CO2 iron metallic products and, eventually, hydrogen-powered steel, commonly referred to as ‘green steel.’