Duqm:Muscat: Oman Investment Authority (OIA) has expanded its presence in the space technology sector through an investment in the Spanish company PLD Space. This investment is part of the Spanish-Omani Private Equity Fund II, aimed at future technologies and space, highlighting OIA's commitment to supporting innovative sectors.

According to Oman News Agency, PLD Space signed a memorandum of understanding on February 20, 2025, with Etlaq Spaceport in Duqm, Oman, to launch its Miura 5 rocket. This agreement follows comprehensive commercial and technical studies to assess the feasibility of the launch.

Founded in 2011 by Spanish entrepreneurs Raºl Torres and Raºl Verdº, PLD Space is headquartered in Elche, Alicante, Spain. The company is noted for being the first private enterprise in Europe to successfully launch a rocket in 2023. It specializes in the development and operation of launch vehicles, with efforts toward creating reusable rockets for small satellite deployment, and aims to advance towards human spaceflight capabilities.

Saif Hamad Al Mahrouqi, Senior Manager of Joint Government Partnerships at OIA, stated that the investment aligns with the authority's strategy to diversify geographically and sectorally, achieve sustainable returns, and facilitate knowledge transfer to Oman. He emphasized that such investments support economic diversification and bolster OIA's role in Omani economic diplomacy.

The Spanish-Omani Private Equity Fund II, an extension of the partnership between OIA and COFIDES, was established in December 2023 with a capital of RO 45.6 million. This fund targets investment in various sectors in Spain and seeks to create synergies with Omani companies, fostering plans for Spanish companies to expand into the Omani market.