01/10/2026 05:31 AST
Oman Investment Authority (OIA) has strengthened its presence in the space technology sector by adding a new investment in future technologies and space through the Spanish-Omani Private Equity Fund II's investment in the Spanish company PLD Space, which specialises in the space transportation sector.
PLD Space had signed a memorandum of understanding on 20 February 2025 with the Etlaq Spaceport in Duqm to launch its Miura 5 rocket from the Sultanate of Oman, following the completion of the necessary commercial and technical studies to verify the feasibility of the launch.
PLD Space was founded in 2011 by Spanish entrepreneurs Raúl Torres and Raúl Verdú and is headquartered in the city of Elche in the Spanish province of Alicante. The company successfully launched a rocket in 2023, becoming the first private company to succeed in launching a rocket in Europe.
The company specialises in the design, manufacturing, development, and operation of launch vehicles. It is also working on developing reusable launch vehicles to send small satellites into space, within an integrated model covering the various stages of rocket development.
PLD Space's activities are based on developing advanced technologies to keep pace with the rapid growth of the space economy and the rising demand for launch services.
The company is building the Miura 5 rocket, designed to transport small satellites and payloads to low Earth orbit, whether through dedicated or rideshare launches. It also has future plans to expand its capabilities toward transporting larger payloads, including cargo transport, ultimately leading to the development of human spaceflight capabilities.
Saif Hamad Al Mahrouqi, Senior Manager of Joint Government Partnerships at Oman Investment Authority, stated that this investment falls within the authority's strategic partnerships aimed at enhancing the geographic and sectoral diversification of its investment portfolio, achieving sustainable returns, and attracting capital and transferring knowledge and expertise to the Sultanate of Oman.
This, he said, supports economic diversification, reinforces the authority's role in implementing Omani economic diplomacy, and embodies the principle of the "Omani dimension" in the authority's foreign investments.
He added that the authority has so far succeeded in concluding a range of strategic partnerships with sisterly and friendly countries, most notably Qatar, Jordan, Turkiye, China, Uzbekistan, Vietnam, Pakistan, Spain, Azerbaijan, India, and Brunei Darussalam.
The Spanish-Omani Private Equity Fund II is an extension of the investment partnership between Oman Investment Authority and COFIDES, a company owned by the Spanish government.
This partnership began in 2018 with the establishment of the Omani-Spanish Private Equity Fund with a capital of OMR89.5 million, with joint investment from each side, alongside a contribution from MCH, which manages the fund. It aims to support joint investments and enhance investment opportunities between the Sultanate of Oman and Spain.
In December 2023, the two sides established the Spanish-Omani Private Equity Fund II with a size of OMR45.6 million, with a commitment of OMR22.4 million from each party, alongside a contribution from MCH, which manages the fund.
The fund targets investment in leading Spanish companies across a number of sectors, including manufacturing, tourism, logistics, healthcare, food and agribusiness, energy, and telecommunications. It focuses on creating synergies between the companies in which the fund invests and Omani companies, as well as exploring plans for the Spanish investee companies to expand into the Omani market.
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