Green Steel and Renewable Hydrogen: Investcorp's $550M Bet on Oman's Port of Duqm

20-05-2025


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.

Other news

Evidence Emerges Challenging Official Position on London Child Exploitation

{'$date': '2025-10-20T11:46:50.905Z'}


London's Metropolitan Police has reversed its longstanding position on grooming gangs in the capital, acknowledging for the first time that it has multiple active investigations into group-based child sexual exploitation. The shift came after an investigation by MyLondon and The Daily Express challenged official statements from both police leadership and Mayor Sadiq Khan, who had consistently maintained there were "no reports" or "no indication" of Rochdale or Rotherham-style rape gangs operating in London.

The investigation uncovered evidence from four separate His Majesty's Inspectorate of Constabulary and Fire & Rescue Services reports spanning 2016 to 2025 that documented at least six potential victims of grooming gang abuse. These case studies, which the Mayor of London personally responded to according to public statements, described children as young as 13 being exploited by groups of predatory men. The reports detailed how girls were plied with drugs and alcohol, raped in hotels by multiple perpetrators, and subjected to life-threatening situations.

Metropolitan Police Commissioner Sir Mark Rowley revealed to Assembly Members at City Hall that the force now acknowledges a "steady flow" of live multi-offender child sexual exploitation investigations and a "very significant" number of historic cases requiring reinvestigation. The commissioner estimated these reviews would cost "millions of pounds a year, for several years" to properly investigate, contradicting previous assertions that the force had "not seen" such cases in London.

Political figures including Reform UK MP Lee Anderson and Shadow Home Secretary Chris Philp have criticized the mayor's handling of the situation, with Anderson stating there is "real, credible evidence that grooming gangs exist in London" and Philp alleging that Khan is "facilitating a cover-up." A spokesman for the mayor maintained that Khan has "always been clear that the safety of Londoners is his top priority" and remains "committed to doing all he can to protect children in London."