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FINANCIAL NEWS
UAE, Oman sign power pact
29 Apr 2010
(MENAFN) The UAE and Oman announced signing a power grid pact, linking the countries’ electricity grids, WAM reported.
Under the agreement, the two countries will enhance power resources to fuel socio-economic development through linking their electricity grids, as the project would secure enough electricity to meet urban and industrial expansion.
UAE officials said that they estimate the annual peak demand for electricity to rise to more than 40,000 megawatts by 2020, reflecting cumulative annual growth of nearly 9 percent.
It is worth mentioning that Gulf countries have completed the first phase of a regional power grid that they hope will help them meet the growing regional demand for power and smooth out capacity at peak times to avoid power cuts.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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
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