Oman to hold two power IPOs in 2012, 2013

12 Oct 2011

(MENAFN) Oman Power and Water Procurement Co (OPWP) said that in the coming two years, the government would hold two power initial public offerings (IPO), reported Emirates 24/7.

The company added that the first power project’s IPO would be held in April of next year at Sur, adding that the USD1.5 billion project would have the capacity to generate 2000 megawatts and was awarded to Phoenix Power Co in 2010 in a 25 year deal.

OPWP also said that the other IPO was planned by Batinah Power Company, and it would be held in April 2013.

It is worth noting that the two power projects will float 35 percent IPO.

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