FINANCIAL NEWS

Chinese firm, Oman fund ink MoU for USD94mn solar project

02 May 2017

(MENAFN) A Chinese firm will ink MoU with Omani investment fund to build a large solar panel project in Duqm, which will have a capacity to produce panels for power plants to generate 1.000MW.

Additionally, Ningxia Zhongke Jiave Co. will have a 51 percent share, whereas the remaining 49 percent ownership will be held by Oman Investment Fund.

Moreover, in the first phase, the firm aims to generate solar panels that can produce 400MW of energy per annum, which will be increased to 1.000MW.

Last month, the Chinese firm inked a land lease deal with Oman Wanfang, the firm that manages 1.172 hectares of land for developing a China-Oman industrial zone in Duqm.

MENAFN0205201700450000ID1095444610

MENAFN0205201700450000ID1095444610

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