Muscat – OQ has signed an agreement to divest its stake in Majis Industrial Services to a consortium comprising the Oman Infrastructure Investment Fund (Rakiza) and global water infrastructure specialist IV3 Aqua, as part of its strategy to optimise its investment portfolio and attract private and foreign investment.

Majis Industrial Services provides industrial water solutions and utility services to companies operating in Suhar’s industrial sector.

The acquisition combines Rakiza’s regional investment expertise with IV3 Aqua’s technical and operational experience in water infrastructure across the Middle East and Asia. OQ said the partnership is expected to support Majis’ next phase of growth and strengthen its role in serving the region’s industrial sector.

Azzan Al Abdullatif, chief portfolio officer, OQ, said the transaction reflects the group’s disciplined approach to capital allocation and portfolio management.

“This transaction reflects OQ’s commitment to active portfolio management and disciplined capital allocation. As Majis enters its next phase of growth under new ownership, OQ can redeploy capital towards opportunities that support long-term value creation and Oman’s economic priorities,” Al Abdullatif said.

Khalid Al Khatib, chief executive officer, Rakiza, said the investment aligns with the fund’s long-term strategy of investing in critical infrastructure that supports industrial growth.

“As Suhar’s leading integrated industrial water platform, Majis combines strategic importance, a distinguished customer base and secure long-term contracted returns, making it a highly attractive investment opportunity,” Al Khatib said.

Olaf Krohg, chief executive officer, IV3 Aqua, said Majis’ established position in Oman’s industrial water sector and its long-term contractual framework made it an attractive investment. The transaction forms part of OQ’s ongoing portfolio optimisation programme. The group has previously completed partial divestments in Abraj Energy Services, OQ Gas Networks, OQ Exploration & Production, OQ Base Industries and, most recently, Oman India Fertiliser Company (OMIFCO), as it continues to recycle capital into strategic growth opportunities.