13 May 2015
MUSCAT: Nama Group, formerly known as Electricity Holding Group, has invested a total of RO 363 million in developing its network in 2014, according to its key officials.
This was spent towards further enhancing the group's existing network, in addition to developing new networks to cater to the economic development of the country, the officials said.
"We have launched an effective capital investment programme to further enhance our existing network, in addition to developing new networks to cater to the economic development of the country and we have invested a total of RO 363 million in developing its network last year", Eng Omar al Wahaibi, Group CEO told the media.
Speaking on the sidelines of the First Annual Performance Press Conference to announce the financial and operational achievements in 2014 yesterday, Al Wahaibi added that the Group is committed to provide its customers across the Sultanate with safe and sustainable electricity solutions and that there has been a considerable growth in the client base over the last year.
"We recorded an increase in its customer base in 2014 which contributed to the growth of 11 per cent in units sold. The capital delivery programme will be financed by retained earnings and through Project Lamar which was launched in 2014 with Bank Muscat/JP Morgan to raise RO 800 million.
"Our focused approach on strategic initiatives has enabled us to deliver targets and improve performance in all areas of business driven by a strong Omani workforce that account for 91 per cent of our employees", he added.
To further elaborate on the business opportunities available to local suppliers and contracts, Eng Ali al Hadabi presented a view of the Oman Electricity Transmission Company master plan (2014-2030), while Eng Ahmed al Jahdhami, CEO of Oman Power and Water Procurement Company (OPWPC), presented an overview of the growing electricity and water procurement needs of the Sultanate.
The event also covered renewable energy objectives and strategy by Eng Hamed al Maghderi, CEO of Rural Areas Electricity Company (RAECO), during which he also presented the updates on the project plans which will contribute 25 per cent of rural electricity generated by end of 2017.
Other presentations covered the latest developments in the customer service improvement projects which included the launch of the new billing and meter reading projects amongst other initiatives by Eng Abdullah al Badri, CEO of Muscat Electricity Company (MEDC) on behalf of Nama Group's distribution companies.
Mansoor Talib al Hinai, Vice- President -- Distribution and Supply, Electricity Holding Company, presented updates for the privatisation study of MEDC and an overview of the sale of Dhofar Generation Company, which is at the final stage of completion.
MUSCAT: Nama Group, formerly known as Electricity Holding Group, has invested a total of RO 363 million in developing its network in 2014, according to its key officials.
This was spent towards further enhancing the group's existing network, in addition to developing new networks to cater to the economic development of the country, the officials said.
"We have launched an effective capital investment programme to further enhance our existing network, in addition to developing new networks to cater to the economic development of the country and we have invested a total of RO 363 million in developing its network last year", Eng Omar al Wahaibi, Group CEO told the media.
Speaking on the sidelines of the First Annual Performance Press Conference to announce the financial and operational achievements in 2014 yesterday, Al Wahaibi added that the Group is committed to provide its customers across the Sultanate with safe and sustainable electricity solutions and that there has been a considerable growth in the client base over the last year.
"We recorded an increase in its customer base in 2014 which contributed to the growth of 11 per cent in units sold. The capital delivery programme will be financed by retained earnings and through Project Lamar which was launched in 2014 with Bank Muscat/JP Morgan to raise RO 800 million.
"Our focused approach on strategic initiatives has enabled us to deliver targets and improve performance in all areas of business driven by a strong Omani workforce that account for 91 per cent of our employees", he added.
To further elaborate on the business opportunities available to local suppliers and contracts, Eng Ali al Hadabi presented a view of the Oman Electricity Transmission Company master plan (2014-2030), while Eng Ahmed al Jahdhami, CEO of Oman Power and Water Procurement Company (OPWPC), presented an overview of the growing electricity and water procurement needs of the Sultanate.
The event also covered renewable energy objectives and strategy by Eng Hamed al Maghderi, CEO of Rural Areas Electricity Company (RAECO), during which he also presented the updates on the project plans which will contribute 25 per cent of rural electricity generated by end of 2017.
Other presentations covered the latest developments in the customer service improvement projects which included the launch of the new billing and meter reading projects amongst other initiatives by Eng Abdullah al Badri, CEO of Muscat Electricity Company (MEDC) on behalf of Nama Group's distribution companies.
Mansoor Talib al Hinai, Vice- President -- Distribution and Supply, Electricity Holding Company, presented updates for the privatisation study of MEDC and an overview of the sale of Dhofar Generation Company, which is at the final stage of completion.
© Oman Daily Observer 2015
