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FINANCIAL NEWS
Oman’s Voltamp reports 26% rise in H1 earnings
21 Jul 2010
(MENAFN) The Chairman of Voltamp Energy, the leading power transformer maker in Oman, said that the company has achieved a 26 percent growth in net profit at $3.5 million for the first six months of 2010 over the same period last year, ONA reported.
He pointed out that the new power transformer unit at Sohar is expected to commence production in the first quarter of 2011.
The unit, which is a 100 per cent subsidiary of Voltamp Energy, will produce large transformers up to 315 mVA in 132 KV class in technical collaboration with Tatung of Taiwan. The new unit will have a capacity of 4,500 mVA per year.
It is worth mentioning that Oman?s demand for power equipment is expected to grow by 12 to 15 percent this year.
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