Oman is planning to sell off two state-owned electricity companies in 2019 as part of the sultanate’s plans to privatise its electricity sector and reduce subsidies.
Speaking to media in London, Mansoor al-Hinai, vice-president for distribution and supply at state-owned Nama (Electricity Holding Company), revealed that Muscat was planning to privatise Oman Electricity Transmission and Muscat Electricity Company in 2019.
While Al-Hinai declined to comment how much the government hoped to raise from selling stakes in the sale, he said that the companies have combined assets worth more than $3.2bn.
“We’ll be looking for big players with a track record of actively owning such assets to come onboard in a consortium to deliver new technology to Oman such as electricity smart meters,” said Al-Hinai.
Nama holds the government’s stake in nine electricity firms, and is planning to sell 70 per cent stakes in three other power distribution companies by 2020, Al-Hinai revealed.
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