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FINANCIAL NEWS
Oman’s Mazoon to invest USD519m in power development
23 Dec 2012
(MENAFN) Oman’s Mazoon Electricity Company unveiled plans to spend as much as USD519.6 million on developing infrastructure and services, Oman News Agency reported.
The company provides services to nearly 40 percent of the Sultanate’s population.
General Manager Zahir bin Abdullah Al-Abri said that the company had invested over USD33.7 million during the January-March period this year to support and upgrade its network.
He added that Mazoon’s total number of customers reached 270,000 in the beginning of 2012, a growth of seven percent.
The company currently owns and manages 216 distribution centres and around 11,000 sub-stations.
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