Monday 16 / September / 2024
Muscat: Oman Investment Authority (OIA) has reported successes in its investments in the Singaporean company Rotary and the Brazilian company Entrevias during 2023.
These investments are part of OIA’s Future Generations Fund (FGF), through which OIA aims to expand its global market investments and strengthen strategic partnerships that yield substantial profits and returns. Additionally, these investments serve to transfer advanced expertise and technologies to local sectors in the Sultanate of Oman and contribute to attracting foreign investors and capital.
In its tenth quarterly issue of its newsletter ‘Enjaz and Eejaz,’ released on Saturday, OIA highlighted the significant revenue growth achieved by the Singaporean company Rotary.
The company’s revenues increased by 19% in 2023 compared to 2022, driven by its execution of large-scale projects in multiple countries and its focus on promising investment opportunities in renewable energy and petrochemicals.
Additionally, OIA’s investment in Rotary dates back to 2008, when it acquired a 21.4% stake in the company.
In 2018, OIA increased its stake to 35% following an agreement with the company’s largest shareholder. Rotary is recognised as a leading provider of integrated engineering and construction services for the oil and petrochemical industries in the Asia-Pacific region.
Its services include engineering design, procurement, construction, project management, and maintenance. It also has major projects in countries such as Malaysia, Thailand, Gulf states, Indonesia, India, and China.
Reflecting OIA’s commitment to incorporating an Omani dimension into its foreign investments, it is currently collaborating with Rotary to leverage its global expertise for projects involving OIA Companies in local sectors.
Moreover, OIA is exploring potential partnerships with international investors through Rotary’s extensive network.
The issue also mentioned the performance of Entrevias, a company operating the infrastructure sector through investments in toll roads in São Paulo, Brazil. OIA reported that Entrevias experienced notable growth in traffic on the roads it invests in, leading to a 17% increase in revenues in 2023 compared to 2022.
This growth facilitated OIA’s successful partial divestment from the company, which has yielded substantial returns that will be reinvested in other ventures, following global best practices in such matters.
The latest issue of ‘Enjaz and Eejaz’ also shed light on several factors contributing to the success of the OIA’s operations and activities.
This includes an interview focused on OIA’s dedication to its human capital. Highlighting the quality of talent within OIA, which oversees its direct investments in more than 35 countries worldwide. OIA’s team comprises professionals with high-quality specialized and professional certifications, some of which are unique to OIA.
For example, more than half CFA-holders in Oman, a leading global certification in financial and economic analysis, work at OIA.
Additionally, 392 out of the 408 OIA employees hold specialized university degrees. The newsletter also discussed ‘Silal Market,’ which marks a significant leap in the fruits and vegetables sector.
It also featured a community member of OIA and its companies; an Omani researcher working at Nakheel Oman, an OIA subsidiary. Furthermore, the newsletter introduced the ‘Oman Scholars’ initiative launched by OIA Company, Takatuf Oman, which aims to enhance education and leadership among Omani students.
