Sojitz-backed Capella eyes Middle East PPPs
20 February 2025
Public-private partnership (PPP) projects across the Middle East will be a key focus for Sydney-headquartered infrastructure developer and investor Capella Capital, according to two sources familiar with the matter.
"The Middle East … is one of the potential markets to expand the business portfolio of Capella," one of the sources said.
MEED understands that the region is included in Capella's medium- to long-term growth strategy.
This development follows the acquisition of the company by Japanese infrastructure investor Sojitz in January this year.
Valued at AUD470m ($300m), the acquisition is targeted for completion in June this year.
Sojitz says the acquisition is in line with its efforts to "strengthen its large-scale infrastructure development capability in the energy, social and transportation infrastructure fields" in Australia, as well as in global markets.
It will also support Sojitz's transformation into an "integrated business model that manages projects from initial formation to asset management".
Capella will likely follow the entry into the Middle East PPP market of fellow Australian infrastructure investor, Plenary Group.
Abu Dhabi holding company ADQ acquired a 49% stake in Plenary in April 2024, including all shares owned at the time by the Canadian pension fund Caisse de Depot et Placement du Quebec.
In a statement issued in September last year, ADQ said the two firms plan to establish a co-investment platform, which will focus on public and social infrastructure opportunities "in high-growth geographies including the GCC region, the Middle East and Central Asia".
In August last year, the Abu Dhabi Investment Office (Adio) appointed a team of Plenary, Belgian firm Besix and the local Mazrui International for a contract to develop and operate a 3,250-bed student accommodation complex and associated facilities at Khalifa University in Abu Dhabi.
Plenary is also part of a consortium that is understood to be planning to bid for the first two packages of the $22bn Dubai Strategic Sewerage Tunnels project.
In April 2023, Saudi Arabia launched a pipeline of 200 PPP projects in 17 sectors. Adio is responsible for coordinating PPP projects in Abu Dhabi, while Oman's Finance Ministry oversees the sultanate's planned PPP projects.
Photo credit: Pixabay (for illustrative purposes only)
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> AGENDA 1: Trump 2.0 targets technology
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Dubai seeks consultants for drainage projects6 February 2026
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Modon tenders Ras El-Hekma construction contracts6 February 2026
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Egypt contractor secures €58m loan for Hungary power plant6 February 2026
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AD Ports signs Jordan Aqaba port PPP deal6 February 2026
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Chinese firm wins Ceer automotive supplier park deal6 February 2026
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The request for qualifications (RFQs) was issued by the municipality’s Sewerage and Recycled Water Projects Department (SRPD).
The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
The second, TF-15-C2, will deliver stormwater links along Umm Suqeim Road to serve the Al-Barsha and Al-Quoz communities.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
These include:
DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.
Bids due on 23 February.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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In September, MEED reported that Modon Holding had tendered contracts for the infrastructure works for the first phase of the Ras El-Hekma project.
As part of the first phase, Modon plans to develop more than 50 million square metres (sq m), including hotels and a marina.
Ras El-Hekma is on a spur of land on Egypt’s northern Mediterranean coastline, about 240 kilometres west of Alexandria.
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According to an official statement, Modon will act as the master developer for the entire development, which will cover more than 170 million sq m.
Modon Holding will develop the first phase of the project, which will cover 50 million sq m.
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Commercial International Bank Egypt (CIB) has provided €58m in credit facilities to local firm Elsewedy Electric for the construction of a combined-cycle gas turbine (CCGT) power plant in Hungary.
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Chinese firm wins Ceer automotive supplier park deal
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Beijing-headquartered Metallurgical Construction Corporation (MCC) has won a contract to undertake the steel structure works on the Ceer automotive supplier park in King Abdullah Economic City (KAEC).
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The automotive supplier park will include production and ancillary facilities for various suppliers and provide the material supply infrastructure for Ceer’s EV plant.
The facilities include:
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Ceer retendered the project in September last year.
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