Rakiza and IV3 Aqua acquire Majis Industrial Services

Oman’s ongoing journey toward comprehensive economic diversification has received a fresh and substantial boost, highlighting the vital role of private-sector participation in modern nation-building.

In a landmark transaction that firmly underscores the Sultanate’s strategic priorities, Rakiza Fund I and specialist water investor IV3 Aqua have officially agreed to acquire Majis Industrial Services SAOC from the global energy investment group OQ. This high-profile acquisition marks a pivotal milestone in expanding private investment within critical infrastructure, directly supporting the manufacturing and industrial growth objectives outlined in Oman’s ambitious Vision 2040 framework.

Powering the SOHAR Port and Freezone
Majis operates as the premier integrated industrial water utilities provider within the SOHAR Port and Freezone, functioning as a vital cornerstone for one of the nation's most active and strategic economic hubs. The organisation delivers a comprehensive, mission-critical portfolio of essential services, ranging from cooling seawater and industrial process water to dependable potable water distribution and advanced wastewater treatment. By securing this foundational asset, the acquiring consortium aims to inject fresh operational expertise, enhanced financial resilience, and long-term sustainability into Oman’s thriving industrial backbone, ensuring that regional businesses have uninterrupted access to indispensable utility services.

The partnership brings together the robust local market experience and extensive regional network of Rakiza Fund I—which is co-managed by Oman Infrastructure Investment Management and Equitix—alongside the proven technical capabilities of global water infrastructure investor IV3 Aqua. Industry leaders have expressed immense confidence in the transaction's capacity to unlock new value for all stakeholders involved. Khalid al Khatib, Chief Executive Officer of Rakiza, emphasised the compelling nature of the asset during the announcement: "As the leading integrated water utilities platform in SOHAR, Majis combines strategic importance, a high-quality customer base and long-term contracted revenues, making it a highly attractive investment that aligns with our long-term strategy,"

Expanding Proven Technical Expertise
For IV3 Aqua, this strategic acquisition builds firmly upon an already established operational footprint across the Sultanate. The firm previously delivered the Qurayyat Independent Water Project, successfully operating a major seawater reverse osmosis desalination facility capable of producing 200,000 cubic metres per day. Expanding their operational portfolio to include Majis significantly broadens their capability to deliver large-scale, reliable utility solutions tailored specifically to heavy industrial demands, strict environmental regulations, and complex logistical requirements across the region.

Key stakeholders have underlined that as manufacturing hubs expand rapidly across the region, safeguarding environmental standards and resource security remains paramount. Representatives from IV3 Aqua noted: "As Oman advances its Vision 2040 ambitions, reliable and resilient water infrastructure will play an increasingly important role in enabling sustainable industrial expansion," Furthermore, maintaining high environmental standards is viewed as integral to attracting foreign direct investment.

Optimisation and Future Growth
Meanwhile, OQ views the divestment as part of a disciplined capital allocation and active portfolio optimisation programme. Following previous successful partial divestments across various energy and industrial sectors, OQ continues to streamline its corporate operations, allowing the group to redeploy capital toward new growth opportunities that align closely with national economic priorities, shareholder value, and long-term financial goals.

This major transaction signals robust and enduring international investor confidence in Oman’s rapidly evolving infrastructure market. By championing dynamic public-private partnerships and drawing long-term institutional capital into essential utilities, the Sultanate is effectively future-proofing its industrial landscape against forthcoming challenges. As Majis enters this next exciting chapter of corporate growth, the enhanced focus on operational excellence, sustainable development, and reliable service delivery promises to deliver enduring benefits for businesses, local communities, and the broader regional economy for years to come.