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Apollo buys 50% interest in Oman maritime terminal

By Pramod Kumar
Vale Oman Distribution Center operates a maritime terminal in Sohar, with a large deep-water jetty Unsplash.com/Ronan Furuta
Vale Oman Distribution Center operates a maritime terminal in Sohar, with a large deep-water jetty

Apollo Global Management, listed on the New York Stock Exchange, will acquire a 50 percent interest in Vale Oman Distribution Center (VODC) from Brazilian miner Vale for $600 million.

The stake was purchased jointly by Apollo-managed affiliates, funds and other long-term investors, the global alternative asset manager said in a statement.

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VODC operates a maritime terminal in Sohar, with a large deepwater jetty and an integrated iron-ore blending and distribution centre with a capacity of 40 million tonnes annually.

VODC operates one of the world’s busiest trade routes, said Apollo partner Jamshid Ehsani.

The transaction is expected to close in the second half of 2024.

Vale will continue to own 100 percent of Vale Oman Pelletizing Company, one of the largest producers of iron ore pellets.

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