SGRF discloses details of Rakiza Infrastructure Fund and Oman Energy Development


هذه الصفحة متوفرة بهذه اللغة: العربية

14 October 2018

MUSCAT – Oman`s  State General Reserve Fund (SGRF) announced today the details of the newly-established Infrastructure Fund (Rakiza) with an initial value of USD 2 billion.

“Rakiza will target infrastructure-related projects in Oman” Muneer al-Muneeri, senior investments manager at SGRF said in a presentation during the Omani-Saudi Economic Forum being held in Muscat today while presenting it as an investment opportunity.

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Al-Muneeri explained that SGRF is the general partner and a “founding investor with $300mn”. Oman’s largest Sovereign Wealth Fund will also be the investment manager for the new Fund.

SGRF also announced the establishment of a new developer in the energy sector under the name Oman Energy Development (OED), with a focus on renewable energy.

“The new company is a partnership with the private sector, while SGRF is a majority shareholder,” Abdulsalam al-Murshidi, Executive President of SGRF, told WAF News.

He added that the new entity would be creating special purpose vehicles (SPVs) to develop different renewable projects.