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FINANCIAL NEWS
Oman’s Raeco to invest USD395.75m for power expansions
03 Mar 2015
(MENAFN) A total of USD395.75 million will be invested by Rural Areas Electricity Company (Raeco) in the next three years to raise the power generation capacity, transmission lines and distribution network in different parts of the country, the company’s chief executive officer showed, Times of Oman reported.
He added that this was the assured capital expenditure between 2015 and 2017 under a business plan, which is under implementation now. Power generation capacity of Raeco will be raised by 145 megawatt (mw) under the plan, taking the total capacity to 427mw by the end of 2017.
“We are developing a power plant in Mazyouna, a new transmission line in Haima and network expansion in Duqm,” he said, on the sidelines of a meeting to announce the Distribution Code review Panel’s annual event for companies engaged in the electricity sector on March 9.
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