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Omani power firms investing over $1B in 2016


 Oman, Muscat: Power companies in Oman are investing more than $1 billion to expand and upgrade the transmission and distribution networks this year, reports Times of Oman.

According to the chief executive officer from the Electricity Holding Company (Nama Group), the group companies have already raised funds from the market which have been invested in the country’s transmission and distribution networks to improve and expand electricity services.

“We have already raised enough funds for this year. It is a programme for this year and previous year, which are mainly for investing in development of transmission and distribution lines,” Eng. Omar Khalfan Al Wahaibi, chief executive officer of Nama Group, said.

Source: Times of Oman