01 Jul 2010
(MENAFN) Abu Dhabi National Energy Company (Taqa) said it has signed an agreement with Abu Dhabi Water and Electricity Authority (ADWEA) to buy a 40 percent stake in Sohar Aluminium Company (SAC), Oman for $400 million, Gulf News reported.
As per the agreement ADWEA, a majority shareholder in the SAC, will transfer to Taqa its stake in the Omani firm.
SAC produces 360,000 tons of aluminum per annum at purities of p1020 and above. SAC also owns and operates a state of the art 1,000 MW combined cycle captive power plant. SAC is a joint venture between the Oman Oil Company, ADWEA and Rio Tinto Alcan.
The purchase price of this stake is approximately $400 million and the final terms are to be agreed between Taqa and ADWEA. The completion of the transfer is subject to certain conditions and third party consents, said a top official.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more