Rakiza Fund I and IV3 Aqua have agreed to acquire Majis Industrial Services SAOC from OQ, marking a significant step in bolstering Oman’s industrial water infrastructure amid broader economic diversification efforts. The deal, announced on July 21, brings together Rakiza Fund I—co-managed by Oman Infrastructure Investment Management (Rakiza) and global infrastructure investor Equitix—and IV3 Aqua, a specialist in water infrastructure investments.
Majis Industrial Services operates as the leading integrated industrial water utilities provider in Oman, delivering cooling seawater, process water, potable water, and wastewater treatment services to a wide range of industrial clients in the SOHAR Port and Freezone. SOHAR is one of the nation’s largest industrial and logistics hubs, playing a critical role in Oman’s manufacturing sector.
The acquisition fits within the framework of Oman Vision 2040, the government’s long-term plan to diversify the economy by expanding industrial capacity and strengthening infrastructure. Both Rakiza and IV3 Aqua view the transaction as an opportunity to enhance Majis’s operational performance while supporting sustainable development and reliable service delivery for its industrial customers.
Khalid al Khatib, Chief Executive Officer of Rakiza, emphasized the strategic importance of the investment, noting that Majis holds a highly attractive portfolio of long-term contracted revenues and a solid customer base. He described the acquisition as aligned with Rakiza’s broader strategy to invest in infrastructure assets that underpin Oman's industrial growth.
IV3 Aqua, which already operates the Qurayyat Independent Water Project—a major desalination plant with a capacity of 200,000 cubic meters per day—highlighted that acquiring Majis broadens its operational footprint within the Sultanate. The company stressed that resilient and reliable water infrastructure is essential to sustaining Oman’s industrial expansion goals outlined in the Vision 2040 framework.
The transaction also underscores ongoing international investor interest in Oman's infrastructure sector, particularly assets characterized by stable, long-term revenue streams. Rakiza indicated that the acquisition supports the government’s objective to increase private-sector participation in strategic national assets, further illustrating the appeal of the country’s infrastructure market to institutional investors.
Rakiza Fund I manages a diverse portfolio of essential infrastructure projects across Oman and Saudi Arabia, while Equitix oversees approximately $20 billion in infrastructure assets worldwide. Presently, Rakiza co-manages over $2 billion in infrastructure holdings spanning utilities, transportation, telecommunications, energy, and social infrastructure sectors.