UTICO, a leading private utility developer in the Middle East, unveiled a utility development project that would lead to lower consumer tariffs and zero subsidies at the recent Oman Water and Power Summit 2012.
UTICO is part of the Ghantoot Group, which in February this year had announced a US$500mn investment in Oman's hospitality, water and energy sectors.
As part of that process, UTICO is in active talks with Omani authorities to implement utility and water desalination projects that could lead to lower water and power bills for Oman's consumers.
UTICO has offered a net revenue generating model with zero subsidy model to the Public Authority of Electricity and Water for several projects including Musandam Water and Power Supply.
It also requires no off-take guarantee, thus saving hundreds of millions of rials for the government.
When implemented, UTICO's overall projects will also generate more than 2,000 jobs for Omanis, besides translating to significant savings for the government.
© Muscat Daily 2012
