Oman Investment Corporation, in cooperation with the Ministry of Defence’s Pension Fund and a local investment firm, announced its acquisition of a power plant in India which is owned by Singapore’s Sembcorp Industries.

According to the Oman News Agency (ONA), the acquisition worth US$1.5 billion, with an estimated production capacity of 2.6 gigawatts.

This was announced following the signing of an agreement with Sembcorp Industries in Singapore.