The Oman Infrastructure Investment Fund (Rakisa) announced, on Tuesday, that it had obtained a capital commitment of 1.125 billion Saudi riyals from the Saudi Public Investment Fund (PIF).
“Rakisa” is a private equity fund, managed in partnership between the Oman Infrastructure Investment Management Company and “Equitex”, and invests in infrastructure projects, as it targets investment in the Sultanate of Oman and Saudi Arabia, and focuses on the sectors of renewable energy, electricity, water, infrastructure for social services and communications, transport and logistics services, according to the Oman News Agency.
Oman’s Minister of Commerce, Industry and Investment Promotion, Qais bin Muhammad Al-Yousef, revealed that the visit of Saudi Crown Prince Mohammed bin Salman to the Sultanate witnessed the signing of 13 agreements between the two countries.
He added, “These agreements are based on clear investment and commercial foundations, including the Omani OQ Group’s signing of two agreements with Aramco and SABIC, and another between the Saudi Shipping Company and the Oman International Logistics Group, and an agreement between Dar Al Arkan Real Estate and Omran Group.”
Munir Al Muniri, CEO of the Oman Infrastructure Investment Management Company, expressed his pleasure to announce the partnership with the Public Investment Fund, which is one of the largest sovereign wealth funds in the world.
He said, “The visions of the Sultanate of Oman and the Kingdom share support for the privatization of facilities and infrastructure, which is a key factor for the success of the investment strategy in Rakeza, in terms of promoting capital market growth, attracting foreign direct investment, and privatization.”
Hugh Crossley, CEO and co-founder of Equitics, said, “This investment is a significant addition and development in the history of the Rakeza Fund, and we look forward to further growth in the region.”