OQ, the worldwide power funding team, has signed an settlement to divest its stake in Majis Commercial Services and products, an organization specialising in commercial water answers and utilities serving Suhar’s commercial sector, to an funding consortium comprising the Oman Infrastructure Funding Fund (Rakiza) and international water infrastructure specialist IV3 Aqua.
The purchase brings in combination Rakiza’s in depth revel in within the native funding panorama and extensive regional community with IV3 Aqua’s technical and operational experience in water infrastructure around the Heart East and Asia. In combination, they supply a powerful platform for Majis to proceed its enlargement and additional support its function in supporting commercial building around the area.
Azzan al Abdullatif, Leader Portfolio Officer of OQ, mentioned: “This transaction reflects OQ’s commitment to active portfolio management and disciplined capital allocation. As Majis enters its next phase of growth under new ownership, OQ can redeploy capital towards opportunities that support long-term value creation and Oman’s economic priorities, as part of OQ’s annual divestment programme. We are confident that Majis is well positioned to continue delivering reliable services while pursuing future growth.”
Khalid al Khatib, CEO of Rakiza, mentioned: “Our investment in Majis reflects our strong conviction in the importance of critical infrastructure that underpins industrial growth in Oman. As Suhar’s leading integrated industrial water platform, Majis combines strategic importance, a distinguished customer base, and secure long-term contracted returns, making it a highly attractive investment opportunity that aligns perfectly with our long-term investment strategy.
Olaf Krohg, CEO of IV3 Aqua, added: “Majis represents precisely the kind of strategic trade that IV3 Aqua seeks to spend money on and expand, given its vital infrastructure, long-term contractual framework and main place in Oman’s commercial water sector. In conjunction with Rakiza, we look ahead to supporting the corporate’s endured enlargement and turning in sustainable long-term worth for all consumers and companions.”
The Majis transaction builds on OQ’s portfolio optimisation programme, following the a hit partial divestments of Abraj Power Services and products, OQ Gasoline Networks, OQ Exploration & Manufacturing, OQ Base Industries and, maximum not too long ago, Oman India Fertiliser Corporate (OMIFCO).
Those transactions proceed to support OQ’s funding portfolio whilst supporting long run enlargement priorities.
