Investcorp, the Middle East’s largest alternative investment firm, announced on Monday that it has entered into an agreement to participate in a $550 million expansion project at the Port of Duqm in Oman, marking a significant step in the firm’s strategy to increase its investments in regional infrastructure.
In an official statement, Investcorp said that its infrastructure arm, Investcorp Aberdeen Infrastructure Partners, will join the project as a shareholder through a consortium that includes the Port of Duqm Company, DIAM Group, and Port of Antwerp-Bruges, Al=Jarida daily.
Strategically located on the southwestern coast of Oman near key oil and gas developments, the Port of Duqm operates as a multi-purpose maritime hub, handling container traffic, dry and liquid bulk, and other cargo.
The ambitious expansion plan includes marine infrastructure upgrades, extensive dredging works, and the construction of new quaysides designed to support a low-carbon industrial platform, which will include green steel production facilities.
Oman, while a relatively small oil producer and not a member of OPEC, is mirroring efforts by its Gulf neighbors to diversify its economy and reduce reliance on fossil fuel revenues. As part of its economic transformation strategy, the Sultanate is focusing on decarbonization and renewable energy, with a goal of producing at least one million metric tons of green hydrogen annually by 2030, as highlighted in a 2023 report by the International Energy Agency.
Investcorp noted that its selection to invest in the Duqm Port expansion followed a competitive bidding process, underscoring the firm’s growing role in regional infrastructure development.
Founded in Bahrain in 1982, Investcorp manages over $55 billion in assets globally. The firm is historically known for investments in prestigious luxury brands such as Gucci and Tiffany & Co., but has since diversified its portfolio to include private credit, real estate, and infrastructure.
This latest move strengthens Investcorp’s footprint in sustainable development projects across the Gulf, aligning both with Oman’s national vision and wider regional ambitions to build climate-resilient, future-ready economies.
