en.Wedoany.com Reported - Iv3 Aqua has signed an agreement with Oman's infrastructure fund Rakiza to acquire Majis Industrial Services, a subsidiary of OQ and a leading industrial water service provider in Oman.

This acquisition builds on Iv3 Aqua's existing operations in the Sultanate of Oman, where it already owns and operates the Qurayyat Independent Water Project. The facility is a seawater reverse osmosis desalination plant with a capacity of 200,000 cubic meters per day, serving the Muscat region.

Through the acquisition of Majis, Iv3 Aqua will expand its role in supporting critical water infrastructure underpinning Oman's industrial sector. Established in 2006, Majis provides water treatment services to customers in the Sohar Port area, Sohar Free Zone, and Sohar Industrial Zone. Its service scope covers seawater extraction, cooling seawater transmission, potable water, process water, irrigation, and industrial wastewater treatment and advanced purification. The company is described as Oman's only fully integrated water solutions platform of this scale.

The acquisition comes as Oman continues its industrial development under the Oman Vision 2040. This strategy places industrial growth at the core of the national economic diversification agenda and requires increased investment in water infrastructure. Public-private partnerships are expected to play a central role in delivering this infrastructure.

Iv3 Aqua CEO Olaf N Krohg stated that Majis has established a strong position as Oman's leading integrated water solutions provider. Krohg said: "Majis has earned a strong reputation for supporting industrial growth in Sohar through a portfolio of key long-term contracts." "At Qurayyat, we delivered a complex infrastructure project to full commercial operation three months ahead of schedule, and we apply the same discipline and care to everything we own and operate." He added that Iv3 Aqua and Rakiza will support Majis's continued growth and create long-term value for customers and stakeholders.

Rakiza CEO Khalid Al Khatib stated that this investment reflects the fund's confidence in the infrastructure supporting Oman's industrial expansion. Al Khatib said: "The investment in Majis reflects Rakiza's belief in the critical infrastructure driving Oman's industrial growth." He added that Majis's strategic importance, high-quality customer base, and long-term contract revenue align well with Rakiza's investment strategy.

OQ Chief Portfolio Officer Azzan Al Abdullatif stated that the transaction reflects OQ's portfolio management and capital allocation approach. Al Abdullatif said: "As Majis enters its next growth phase under new ownership, OQ can redeploy capital into opportunities that create long-term value and support Oman's economic priorities." He added that Majis is well-positioned to continue delivering reliable services while pursuing future growth.

The completion of the transaction remains subject to customary regulatory approvals.