Muscat – Oman Investment Authority (OIA) has expanded its investments in the space sector through the Omani-Spanish Private Equity Fund II, which has invested in the Spanish space company PLD Space.

The Elche-based company specialises in space transportation and development of launch vehicles for small satellites, strengthening OIA’s exposure to a rapidly expanding global space economy.

The investment also has a direct link to Oman. In February 2025, PLD Space signed a memorandum of understanding with Duqm Spaceport for the potential launch of its Miura 5 rocket from Oman, subject to commercial and technical studies.

Founded in 2011 by Spanish entrepreneurs Raúl Torres and Raúl Verdú, PLD Space designs, manufactures and operates launch vehicles. It achieved a successful rocket launch in 2023, becoming the first private company in Europe to do so, according to the company.

Its Miura 5 rocket is being developed to carry small satellites and other payloads into low Earth orbit through dedicated or shared launches. The company also plans to expand into larger payloads, cargo and, ultimately, human spaceflight capabilities.

Saif bin Hamad Al Mahrouqi, Senior Director of Joint Government Partnerships at OIA, said the investment supports the authority’s strategy of diversifying its portfolio geographically and across sectors while attracting capital and transferring knowledge and expertise to Oman.

He said such investments also support economic diversification and OIA’s role in advancing Oman’s economic diplomacy, reflecting the ‘Omani dimension’ in its international investments.

The investment is part of OIA’s broader strategic partnerships, which include countries such as Qatar, Jordan, Turkey, China, Uzbekistan, Vietnam, Pakistan, Spain, Azerbaijan, India and Brunei Darussalam.

The second Omani-Spanish Private Equity Fund of RO45.6mn was established in December 2023, with OIA and Spanish state-owned company COFIDES each committing RO22.4mn, alongside an investment from fund manager MCH Private Equity.

The fund targets leading Spanish companies in manufacturing, tourism, logistics, healthcare, food and agribusiness, energy and telecommunications, while seeking opportunities to create links between portfolio companies and Omani businesses and support their potential expansion into the sultanate.

The partnership builds on the first Omani-Spanish fund, established in 2018 with RO89.5mn in capital.