Muscat – Oman Investment Authority (OIA) has reported success in its investments in the Singaporean company Rotary and Brazil’s Entrevias during 2023. These investments are part of OIA’s Future Generations Fund, through which the authority 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 and contribute to attracting foreign investors and capital.

In the tenth quarterly issue of its newsletter Enjaz and Eejaz released on Saturday, OIA highlighted the significant revenue growth achieved by Rotary. The company’s revenues increased 19% in 2023 compared to 2022, driven by execution of large-scale projects in multiple countries and its focus on promising investment opportunities in renewable energy and petrochemicals.

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 oil and petrochemical industries in the Asia-Pacific region. Its services include engineering design, procurement, construction, project management and maintenance. It has major projects in countries such as Malaysia, Thailand, Indonesia, India, China and the Gulf states.

OIA is currently collaborating with Rotary to leverage its global expertise for projects involving OIA companies.

The issue also reported the performance of Entrevias, a company operating the infrastructure sector through investments in toll roads in São Paulo, Brazil. The company 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.

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