PIF invests SAR 1.13 bln in infrastructure, says Oman’s Rakiza

Logo of Public Investment Fund (PIF)

Oman Infrastructure Fund (Rakiza), which is co-managed by Oman Infrastructure Investment Management and Equitix, received a capital commitment of SAR 1.125 billion (OMR 115 million) from Saudi Arabia’s Public Investment Fund (PIF).

Rakiza is a private equity fund, which invests in infrastructure projects. The fund aims to invest in Saudi Arabia and Oman.

Rakiza focuses on investments in the sectors of renewable energy, electricity and water, infrastructure for social services, telecommunications, transport and logistics, according to an official statement.

In December 2021, Saudi Arabia and Oman agreed, during the Crown Prince’s visit to Muscat, agreed to increase the facilities that help boost mutual trade and cooperation in the food security field. Oman welcomed the Public Investment Fund’s (PIF) plan to invest $5 billion in the Sultanate.