Inspector David Jennings said: “The women, both aged 22, were attacked while walking close to Beresford Avenue in Coleraine at around 11.25 pm on Sunday night, January 13.
“They were taken to hospital for treatment to injuries that while serious are not believed to be life threatening at present.
“The arrested male was detained a short time later and remains in custody at present.
“We would like to hear from anyone who was in the area and who witnessed the incident or who noticed two males running away.
“Officers can be contacted by calling 101, quoting reference 1220 13/01/19.”