FINANCIAL NEWS

Saudi’s ACWA, Japanese firm win USD630m Omani power plant contract

24 Mar 2015

(MENAFN) Saudi’s ACWA Power and Japan’s Mitsui & Co won a deal from Oman to construct and run a USD630 million, 445 megawatt natural gas-fired power plant, Arabian Business reported.

Dhofar International Development and Investment Holding Co has also won a 10 percent portion of the project and is set to operate alongside ACWA Power.

The Saudi and Japanese firms will each take 45 percent. The partners will sell electricity to Oman under a 15-year agreement with the new plant to be operational in January 2018.

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