Oman’s state energy company OQ has agreed to sell its stake in Majis Industrial Services SAOC, a provider of industrial water solutions serving the Suhar industrial area, to a consortium formed by the Oman Infrastructure Investment Fund (Rakiza) and the global water infrastructure firm IV3 Aqua. The transaction was announced in early July 2026 as part of OQ’s broader divestment strategy aimed at reallocating capital toward priority sectors supporting Oman’s economic development.
Majis Industrial Services is a key water utility company focused on delivering integrated water services to the industrial sector in Suhar, one of Oman’s prominent industrial hubs. The sale brings together Rakiza’s experience in local investment and regional networks with IV3 Aqua’s technical expertise in water infrastructure projects across the Middle East and Asia. Both entities emphasized that their combined involvement will position Majis for continued growth and reinforce its service reliability.
Azzan al Abdullatif, Chief Portfolio Officer at OQ, stated that the deal demonstrates the company’s commitment to active portfolio management and disciplined capital allocation. He expressed confidence that Majis will sustain its operational performance under new ownership while allowing OQ to direct resources toward other areas aligned with Oman’s long-term economic priorities.
Khalid al Khatib, CEO of Rakiza, highlighted the strategic importance of Majis’ infrastructure in supporting Oman’s industrial development. He noted that Majis’ robust customer base, strategic positioning in Suhar, and secured long-term contracts make it a valuable addition aligning with Rakiza’s investment approach focused on critical infrastructure assets.
From IV3 Aqua’s perspective, CEO Olaf Krohg described Majis as a strategic investment with a favorable contractual framework and a leadership role in Oman’s industrial water sector. He expressed optimism about working alongside Rakiza to support the company’s growth trajectory and to deliver sustainable value for its customers and stakeholders.
The acquisition is expected to strengthen Majis’ capacity to meet the evolving needs of the industrial sector in the region, enhancing infrastructure resilience and operational efficiency under the new partnership.