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FINANCIAL NEWS
Oman Elect Co. to invest USD 776.65mn
20 Apr 2016
(MENAFN) The Oman Elect Transmission Co. (OETC) aims to invest USD 776.65mn over a three-year period for building new transmission lines for evacuating power.
Accordingly, half of this amount will be invested in helping evacuation of power from the power plant coming up at Sohar (Sohar 3) and Ibri.
Moreover, a group led by Mitsui signed a deal earlier this year to build two independent gas-fired combined cycle power plants with 3,150 capacities.
In addition, the firm had raised USD 1bn from overseas markets in 2015 for funding investment programs.
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