Tuesday 14 July 2020

Oman’s power, desal sector receives $10bn FDI

MUSCAT, March 20, 2019

Oman’s electricity generation and water desalination sector has received around $10 billion in total foreign direct investment (FDI) to date, said a report.

Yaqoob Al Kiyumi, chief executive officer of Oman Power and Water Procurement Company (OPWP), the sole offtaker of electricity and water under the sector law, highlighted the strong appeal of this key industry to international investors and utilities, added the Oman Daily Observer report.

Al Kiyumi said that the sector is also making a significant contribution to national development and economic growth.

He added that as many as 16 privately-owned power and water companies now make up the bulk of firms operating in this key industry.

Al Kiyumi noted that the shares of power and water project companies listed on the Muscat Securities Market are now valued at around RO450 million ($1.168 billion). These companies have also spent in excess of RO500 million ($1.3 billion) on products, equipment and services during the execution, as well as operation and maintenance.


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