Investcorp, a leading alternative investment firm, has announced a significant $550 million investment in the expansion of the Port of Duqm in Oman. This strategic move is part of a broader initiative to develop the port into a multipurpose hub that supports Oman's economic diversification and sustainability goals. The investment, made through Investcorp Aberdeen Infrastructure Partners (AIIP), aligns with Oman's Vision 2040, aiming to reduce the country's reliance on oil revenues and transition towards a low-carbon economy.

The Port of Duqm, strategically located on Oman's coastline with direct access to the Indian Ocean, is set to undergo extensive marine infrastructure works, including dredging and the construction of a new quay wall. These developments will facilitate the establishment of a new low-carbon industrial plant within the Special Economic Zone at Duqm, focusing on the production of low CO2 iron metallics products and, ultimately, hydrogen-powered 'green steel'. This initiative underscores Oman's commitment to sustainable infrastructure development and its ambition to produce at least 1 million metric tons of renewable hydrogen annually by 2030.

Investcorp's investment in the Port of Duqm expansion was secured through a competitive process, highlighting the firm's strategic focus on long-term concessions and partnerships in the GCC and MENA regions. The project is a collaboration between AIIP, the Port of Duqm Company, the DEME Group, and Port of Antwerp Bruges, forming a consortium named CAP INFRA. This partnership not only enhances the port's capacity as a crucial gateway for global trade but also positions it as a key player in the emerging green steel market.

The expansion of the Port of Duqm represents a pivotal step in Oman's economic diversification and sustainability efforts. By investing in infrastructure that supports green industries, Oman is paving the way for a future dominated by renewable energy and advanced logistics. Investcorp's involvement in this project reflects its confidence in Oman's strategic vision and its potential to become a leader in sustainable development within the region.

In a significant shift from tradition, King Charles III has announced the decommissioning of the royal train, marking the end of over 180 years of royal rail travel. This decision, part of broader cost-cutting and modernization efforts within the royal household, reflects the monarchy's adaptation to contemporary financial and logistical realities. The royal train, a symbol of the British monarchy's long-standing relationship with the railway, will cease operations next year, with the royal family transitioning to helicopter travel for their official duties.

The royal train's history dates back to Queen Victoria's first rail journey in 1842, a moment that heralded a new era of royal mobility. Over the decades, the train evolved, with successive monarchs adding personal touches and modern amenities, from King Edward VII's yacht-inspired design to King George V's installation of the first train bath during World War I. The current iteration, upgraded in 1977 for Queen Elizabeth II's Silver Jubilee, has served the royal family faithfully, embodying both tradition and innovation.

James Chalmers, the Keeper of the Privy Purse, emphasized the decision's fiscal prudence, stating the need for the royal household to apply 'fiscal discipline' and be 'forward-looking in our allocation of funding.' The move comes as the Sovereign Grant, which funds royal duties and palace upkeep, remains steady at £86.3 million for the financial year ending in March 2025. The royal train's retirement is a poignant moment for the monarchy, symbolizing both an end and a new beginning.

As the royal train prepares for its final journey, the royal family looks to the future, embracing modern modes of transportation that align with today's demands. This transition, while marking the end of an era, also underscores the monarchy's enduring ability to evolve with the times. The fond memories and historical significance of the royal train will undoubtedly remain a cherished part of Britain's royal heritage.